Biotech Conferences Week 2 Day 3 Part 3 - The Oncology Institute, Inc.

STLN (quick overview): Starling Oncology is a value-based oncology platform that assumes Medicare Part B oncology-spend risk across more than 2 million patients in five states and combines utilization management, provider networks and drug procurement. Management expects capitated revenue to double from roughly $150 million to $300 million in 2027, mostly from announced contracts, while pharmacy generates over 60% of revenue. The key test is whether new delegated lives produce favorable medical-loss ratios and durable cash generation rather than merely adding administered risk.

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