ADDED
As of February 20, 2026, there were 135,914,816 shares of the Registrant s Common Stock outstanding.
Securities and Exchange Commission not later than April 30, 2026.
2 SUMMARY RISK FACTORS AdaptHealth s business is subject to numerous risks and uncertainties, including those described in Item 1A, Risk Factors.
Sleep Health The Sleep Health segment provides sleep therapy equipment, supplies and related services (including continuous positive airway pressure and BiLevel services) to individuals for the treatment of obstructive sleep apnea.
As of December 31, 2025, AdaptHealth serviced approximately 4.3 million patients annually in all 50 states through our network of approximately 640 locations in 48 states.
The Company's principal executive offices are located at 555 East North Lane, Suite 5075, Conshohocken, Pennsylvania 19428.
These products, which include positive airway pressure ("PAP") masks and related supplies, continuous glucose monitors ("CGM"), diabetes management supplies, orthopedic bracing, wound care supplies, home medical equipment and related accessories, incontinence supplies, medications, enteral supplies, and other products, accounted for approximately 63% of AdaptHealth s net revenue for the year ended December 31, 2025.
AdaptHealth is paid a fixed monthly amount for certain HME products as designated by the Centers for Medicare Medicaid Services ( CMS ) or commercial insurance payors, such as oxygen and home mechanical ventilation equipment, PAP equipment, hospital beds, and other products.
These sales accounted for approximately 33% of AdaptHealth s net revenue for the year ended December 31, 2025.
AdaptHealth receives a per member per month ( PMPM ) fee under certain at-risk capitation arrangements, which refers to a model in which the Company receives a PMPM fee from the third-party payor, and is responsible for 5 managing a range of healthcare services and associated costs of its members.
REMOVED
As of February 21, 2025, there were 134,867,011 shares of the Registrant s Common Stock outstanding.
Securities and Exchange Commission not later than April 30, 2025.
Sleep Health The Sleep Health segment provides sleep therapy equipment, supplies and related services (including CPAP and BiLevel services) to individuals for the treatment of obstructive sleep apnea.
As of December 31, 2024, AdaptHealth serviced approximately 4.2 million patients annually in all 50 states through our network of approximately 660 locations in 47 states.
The Company's principal executive offices are located at 220 West Germantown Pike, Suite 250, Plymouth Meeting, Pennsylvania 19462.
AdaptHealth is often paid a fixed monthly amount for certain HME products as designated by the Centers for Medicare Medicaid Services ( CMS ) or commercial insurance payors, such as CPAP equipment, wheelchairs, hospital beds, oxygen concentrators, insulin pumps and other similar products.
These sales accounted for approximately 32% of AdaptHealth s net revenue for the year ended December 31, 2024.
These products, which include CPAP masks and related supplies, diabetes management supplies, CGMs, wound care supplies, wheelchair cushions accessories, orthopedic bracing, breast pumps and supplies, walkers, commodes and canes, nutritional supplies and incontinence supplies, accounted for approximately 64% of AdaptHealth s net revenue for the year ended December 31, 2024.
AdaptHealth also contracts with national healthcare distribution companies to ship certain HME products directly to patients homes.
AdaptHealth has a centralized approach for key business processes, including revenue cycle management, strategic purchases, payor contracting, mergers and acquisitions ( M A ) activity, finance, compliance, legal, human resources, IT and sales management.