American Renal Associates Holdings, Inc. (NYSE:ARA) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 09:00 am ET


American Renal Associates Holdings, Inc. (NYSE:ARA) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the American Renal Associates Second Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Victoria Labriola, Vice President, General Counsel and Secretary. Thank you. You may begin.

Victoria Labriola

Thank you, operator. Good morning, everyone, and welcome to our second quarter 2020 earnings conference call and webcast. We thank you for joining us and hope you are continuing to remain healthy and safe during these challenging times. I am Victoria Labriola, Vice President, General Counsel and Secretary for ARA. Joining me for today's presentation are Joe Carlucci, our Chairman and CEO; Dr. Don Williamson, our Chief Operating Officer, who will be providing the clinical and operational update; and Mark Herbers, our Interim Chief Financial Officer, who will be providing the financial review.

I want to remind everyone that we may make certain remarks today that constitute forward-looking statements within the meaning of the federal securities laws. The company's actual results may differ materially from such statements due to a number of risks and uncertainties. Including those described in our most recent SEC filings. Any forward-looking statements made on this call are effective only as of today, and the company undertakes no obligation to revise or update any forward-looking statements for any reason.

On today's call, we will refer to certain non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures are available as is important information concerning the use of non-GAAP measures generally, in the earnings press release and our current Investor Relations presentation deck, both of which are available within the Investor Relations section of our website at

I also want to remind you that our adjusted EBITDA, less NCI calculations do not include the cost of certain legal and other matters, including costs relating to certain litigation, and the SEC investigation.

With that, I'm pleased to turn the call over to Joe Carlucci.

Joseph Carlucci

Thank you, Vicki, and good morning, everyone. When we last spoke, our country was still in the early stages of trying to grapple with an unprecedented health crisis, a crisis with significant impact on our daily lives, our economy and the safety and well-being of all Americans. While some areas of the country are attempting to reopen with the hope that the worst has passed, other regions of the United States are just starting to experience higher rates of transmission of COVID-19, causing continued disruption to our nation. Despite the ongoing impact of this health crisis, our business continuity plans, together with other measures we implemented, some of which I highlighted last quarter, have enabled us to remain fully operational across our entire network of clinics.

We continued to treat our patients, including COVID-19 positive patients, safely in the outpatient setting with relatively minor impacts to our staff and other resources. The safety of