Eleusis SPAC
Andala-Managed Clinic Prototype - Estimated Unit Level Economics
Patient Population
~5.7m large group
covered lives in
prototype region ¹
~60k TRD patients
covered²
~1% TRD patient
acquisition required
for full capacitation³
Clinic Capacitation
Capacity for 9,000
treatments per year
per clinic4
Clinics aim to:
Treat 30 new
patients per month
within 4 months5
Reach 85%
capacitation within
9 months5
+
Patient Acquisition &
Reimbursement
$1,267 per patient
acquisition cost
assumed5
$6,356 per patient
net revenues6
Average net
reimbursement
$265 per visit5
Ti
Estimated Run-rate
and Return
85% capacitated
run-rate revenue
of ~$2.4m; EBITDA
of ~$800k5
Cash flow positive
at ~50% capacity5
~220% annual
return on invested
capital per clinic5
1) Estimated covered lives (adults) in anticipated prototype region (Texas) based on BCBS/Anthem (https://www.bcbs.com/news/state-by-state) data and US census data on US adult population relative to total population
(https://www.census.gov/quickfacts/fact/table/US/PST045219) 2) Estimate of TRD patient population in prototype regions covered by BCBS/Anthem adjusted for MDD/TRD prevalence in US adults; prevalence data from Zhdanava M, Pilon D, Ghelerter I, et al. The
prevalence and national burden of treatment-resistant depression and major depressive disorder in the United States. J Clin Psychiatry. 2021;82(2):20m13699.depression) 3) Estimate assumes 3 clinics and full capacity is assumed to be at 375 patients treated 24 times per
year per clinic based on capacity for 9,000 treatment per year per clinic; 4) Assumes 6 rooms per facility, 6 treatments per room per day, 250 operating days per year; 5) Eleusis estimates based on capital budget and financial projections as of 12/1/2021 ; 6) Eleusis estimates
per patient net revenues assume SPRAVATO treatment under a 1yr authorization from a large group insurance payor.
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