ADAPTHEALTH CORP. Announces THIRD Quarter 2022 RESULTS AND UPDATES 2022

CORP. Announces THIRD Quarter 2022 RESULTS

AND UPDATES 2022 OUTLOOK

MEETING, Pa. - November 8, 2022 - AdaptHealth Corp. (NASDAQ: AHCO) ("AdaptHealth" or the "Company"),

a national leader in providing patient-centered, healthcare-at-home solutions including home medical equipment, medical supplies, and

related services, announced today financial results for the third

quarter ended September 30, 2022.

Third Quarter Results

Guidance Updated for Fiscal Year 2022

The Company is updating its previously issued financial guidance for

fiscal year 2022, as follows:

Guidance for fiscal year 2022 does not include any contribution from

acquisitions that have not yet closed.

Management Commentary

Steve Griggs, Chief Executive Officer, commented, "We delivered

another solid quarter as we continued to capitalize on strong demand in our HME and Sleep product lines with CPAP patient set-ups at or

near record levels each month of the quarter, and our diabetes product line once again posting double-digit growth. Additionally, our

operational excellence initiatives continued to partially offset general inflationary pressures and higher labor costs. As a result, we

were pleased to see sequential margin expansion in the third quarter and expect further improvement in the fourth quarter. This strong

performance demonstrates the resilience of our business and confirms confidence in our ability to achieve the 2025 goals we set out at

our Capital Markets Day."

Josh Parnes, President, said, "The healthcare marketplace continues

to move aggressively to the home environment, and we are positioning AdaptHealth to lead this shift with our technology-enabled, patient-first

integrated care model. As we look ahead, our team remains deeply committed to deliver on our mission of helping the approximately 3.9

million patients we serve to live their healthiest lives at home while reducing healthcare costs and unlocking AdaptHealth's earnings

and growth potential."

Management will host a conference call at 8:30

am ET today to discuss the results and business activities. Interested parties may participate in the call by dialing:

(877) 407-6176 (Domestic) or

(201) 689-8451 (International)

registration: Click Here

Following the live call, a replay will be available

for six months on the Company's website, www.adapthealth.com under "Investor Relations."

About AdaptHealth Corp.

AdaptHealth is a national leader in providing

patient-centered, healthcare-at-home solutions including home medical equipment (HME), medical supplies, and related services. The Company

provides a full suite of medical products and solutions designed to help patients manage chronic conditions in the home, adapt to challenges

in their activities of daily living, and thrive. Product and service offerings include (i) sleep therapy equipment, supplies, and

related services (including CPAP and bi PAP services) to individuals suffering from obstructive sleep apnea, (ii) medical devices

and supplies to patients for the treatment of diabetes (including continuous glucose monitors and insulin pumps), (iii) HME to patients

discharged from acute care and other facilities, (iv) oxygen and related chronic therapy services in the home, and (v) other

HME devices and supplies on behalf of chronically ill patients with wound care, urological, incontinence, ostomy and nutritional supply

needs. The Company is proud to partner with an extensive and highly diversified network of referral sources, including acute care hospitals,

sleep labs, pulmonologists, skilled nursing facilities, and clinics. AdaptHealth services beneficiaries of Medicare, Medicaid, and commercial

insurance payors, reaching approximately 3.9 million patients annually in all 50 states through its network of approximately 750 locations

Forward-Looking Statements

This press release includes certain statements that are not historical

facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation

Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will,"

"estimate," "continue," "anticipate," "intend," "expect," "should,"

"would," "plan," "predict," "potential," "seem," "seek," "future,"

"outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical

matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of

revenue and other financial and performance metrics and projections of market opportunity and expectations and the Company's acquisition

pipeline. These statements are based on various assumptions and on the current expectations of AdaptHealth management and are not predictions

of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as,

and must not be relied on, by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.

Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances

are beyond the control of the Company.

These forward-looking statements are subject to a number of risks and

uncertainties, including the outcome of judicial and administrative proceedings to which the Company may become a party or governmental

investigations to which the Company may become subject that could interrupt or limit the Company's operations, result in adverse

judgments, settlements or fines and create negative publicity; changes in the Company's customers' preferences, prospects

and the competitive conditions prevailing in the healthcare sector; and the impact of the coronavirus (COVID-19) pandemic and the Company's

response to it. A further description of such risks and uncertainties can be found in the Company's filings with the Securities

and Exchange Commission. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results

implied by these forward-looking statements. There may be additional risks that the Company presently knows or that the Company currently

believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition,

forward-looking statements reflect the Company's expectations, plans or forecasts of future events and views as of the date of this

press release. The Company anticipates that subsequent events and developments will cause the Company's assessments to change. However,

while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims

any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's assessments as

of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Use of Non-GAAP Financial Information and Financial Guidance

This release contains non-GAAP financial guidance, which is adjusted

to exclude certain costs, expenses, gains and losses and other specified items that are evaluated on an individual basis. These non-GAAP

items are adjusted after considering their quantitative and qualitative aspects and typically have one or more of the following characteristics,

such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative

of future operating results. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods.

The Company uses EBITDA and Adjusted EBITDA, which are financial measures

that are not prepared in accordance with generally accepted accounting principles in the United States, or U.S. GAAP, to analyze its financial

results and believes that they are useful to investors, as a supplement to U.S. GAAP measures.

The Company believes Adjusted EBITDA is useful to investors in evaluating

the Company's financial performance. The Company uses this metric as the profitability measure in its incentive compensation plans

that have a profitability component and to evaluate acquisition opportunities, where it is most often used for purposes of contingent

consideration arrangements.

EBITDA and Adjusted EBITDA should not be considered as measures of

financial performance under U.S. GAAP, and the items excluded from EBITDA and Adjusted EBITDA are significant components in understanding

and assessing financial performance. Accordingly, these key business metrics have limitations as an analytical tool. They should not be

considered as an alternative to net income or any other performance measures derived in accordance with U.S. GAAP or as an alternative

to cash flows from operating activities as a measure of the Company's liquidity.

There is no reliable or reasonably estimable comparable GAAP measure

for the Company's non-GAAP financial guidance because the Company is not able to reliably predict the impact of certain items, including

equity-based compensation expense, transaction costs, changes in fair value of the warrant liability, and other non-recurring items of

expense or income in full year 2022. As a result, reconciliation of these non-GAAP measures to the most directly comparable GAAP measure

is not available without unreasonable effort. In addition, the Company believes such a reconciliation would imply a degree of precision

and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact

on the Company's future GAAP results.

In addition, the Company's non-GAAP financial guidance in this

release excludes the impact of any potential additional future strategic acquisitions and any specified items that have not yet been identified