PointClickCare Technologies Inc.

Overview Key strengths Key risks High switching costs for customers, resulting in very low turnover. Acquisitions required to grow customer base. Grows wallet share with existing customers via add-on products. Uncertain future success of its Post-Acute Management Solutions product could lead to larger acquisitions or dividends. Customer base should be consolidators on average, growing the number of subscribing facilities. Financial sponsors could have greater influence on financial policy despite voting control of founders. Rising costs of hiring and retaining employees. The company reduced leverage to the low-5x area in the remainder of the year after it acquired Audacious Inquiry. PCC?s software for health care records reported strong organic growth in 2022 in its core skilled nursing facility (SNF) and senior

... declined in 2022, primarily because of EBITDA growth in its core business. The company reduced leverage to the low-5x area in the remainder of the year after it acquired Audacious Inquiry. PCC's software for health care records reported strong organic growth in 2022 in its core skilled nursing facility (SNF) and senior living end markets. In 2022, we believe customers continued to roll out PCC products to new facilities and purchased add-on products to improve efficiency and reduce paperwork. Additionally, despite a drop in patient volumes at SNF facilities, PCC's revenue was largely unaffected because its contracting terms are typically based on beds, not patients. PCC also added over 1,600 new facilities in 2022, partly driven by the roll-up acquisition strategies of its customers. We believe the SNF industry will continue consolidating, which should benefit the company because its customers are, on average, larger and more likely to acquire...

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