Ed Pesicka: Thank you. Excuse me. Thank you. Really what I want — everyone on the call to walk away with is really three key points, I think that about our business. And it really first starts with our Patient Direct business and the fact that with the acquisition of Apria, with the strong performance of our Byram division, putting those two together, we’ve really changed materially the profile of our company. And the fact that now the majority of our profit and EBITDA comes from that Patient Direct segment. And as I talked about that Patient Direct segment, I think it’s also important to recognize that the incredible growth we’re seeing there. On a pro form a basis, we grew this quarter at more than 10% in that segment. And not only did we grow in that quarter 10%, the majority of our key product categories grew in double-digits, so it’s not one category driving it.
The other thing is not just growth in this segment. If you look at it on a pro form a basis, we’re at nearly 11% profit margin and year-over-year on the pro form a basis, that’s a 280-basis point expansion. That’s because of the strong market growth relative to others in the industry, that synergy realization where we’re far ahead where we expected we would be and in strong execution. Here’s the second thing, our medical distribution, the business is performing extremely well. The business that’s struggled in 2017 to 2019 with service and customer losses has stabilized. We’ve got a significant amount of key account wins in addition to that retention of business and we’re seeing nice growth in that business both sequentially and year-over-year.
And then finally, the third thing really is we recognize that our S&IP products were incredible to us as a company over the last several years to help us pay down debt, as well as change the profile of the business. We’ve got a cost structure issue we have as a total company. And we’re going to address that aggressively with the operating model realignment. And that realignment is going to deliver $30 million expected in 2023, as well as a run rate at the end of the year by $100 million, long-term north of $200 million and between $250 million and $400 million worth of working capital and we’re going to do that with a high sense of urgency and aggressiveness. Those three things that I just talked about are going to enable us to continue to drive, enable us to leverage and invest in growing our Patient Direct segment, which is going to allow us to continue to diversify going forward.
It’s going to enable us to really look at our products and healthcare services segment to leverage that to help grow the Patient Direct in addition to that expand relationships and grow proprietary product sales and all of that is going to help drive tremendous amount of free cash flow to pay down debt for us to continue to reinvest in the business. So again, appreciate the time this morning and look forward to talking everybody in the future. Thank you.
Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating and you may now disconnect.
