Long-Term Outlook

  • Macro trends of demographics & government needs support long-term growth
  • Successful acquisition history & active M&A program

Excellent Revenue Visibility

  • 90%+ of annual revenue from existing contracts
  • Average weighted contract length of ~5 years (including options)
  • High-recurring revenue
  • Sticky customer relationships

Leader in Markets with Barriers to Entry

  • Deep relationships & excellent reputation
  • Market entry requires expertise in complex procurement process, operation of government programs & serving diverse populations
  • Reputation for delivering outcomes & creating efficiencies

Profitable Growth & Good Stewards of Capital

  • Portfolio operating margin in targeted range of 10%–15%
  • High cash conversion
  • Healthy balance sheet: TTM pro-forma EBITDA of $410.8M & cash/cash equivalents $71.1M and no draws on corporate credit facility (at June 30, 2019)
  • $400M credit facility extended through September 2022