ADAPTHEALTH PROVIDES Full-year 2023 Guidance AND Preliminary Commentary on Fourth Quarter 2022 REsults

PROVIDES Full-year 2023 Guidance AND

Preliminary Commentary on Fourth Quarter 2022 REsults

MEETING, Pa. - January 10, 2023 - 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, today provided its initial guidance for full-year 2023 and

preliminary commentary on fourth quarter 2022 results.

on current business, market trends, and acquisitions completed to date, the Company is establishing initial guidance for fiscal year 2023

for fiscal year 2023 reflects anticipated net impacts from scheduled changes in the reimbursement and regulatory environment, including

increased revenue related to the consumer price index updates to the DMEPOS fee schedule, the extension of current rural and non-rural/non-CBA

blended Medicare rates and the extension of sequester relief in 2023. Consistent with prior guidance estimates, the Company's

guidance for fiscal year 2023 does not include contribution from any acquisitions that have not yet closed.

full year 2022, the Company anticipates net revenue to be near the midpoint of the previously-provided guidance range of $2.950 billion

to $3.010 billion and Adjusted EBITDA to be near the low end of the previously-provided guidance range of $620 million to $650 million.

The Company expects to release fourth quarter and full year 2022 results on February 28, 2023.

Griggs, Chief Executive Officer, commented, "We are pleased with our guidance for the full year ending December 31, 2023 which reflects

continued improvement and stabilization of the supply of PAP devices for our sleep business and overall non-acquired net revenue growth

for the Company in the range of 8% to 10%."

remains very strong across our businesses and we are pleased with our ability to execute on that demand, addressing the needs of our patients

and adding value for our partners. We continue to work on innovative technology solutions that allow us to seamlessly communicate with

patients, providers and payers to take advantage of value-based care and chronic care management opportunities. At the same time, we are

not immune to the cost of goods inflation and labor pressures that all operators in the healthcare industry are experiencing and we will

continue to look for ways to drive efficiency and generate operating leverage."

information regarding 2022 results presented in this press release is unaudited, is based on the Company's current estimates of

its financial results for the quarter and fiscal year ended December 31, 2022, and remains subject to change based on management's

final review of the Company's fourth quarter financial results and the completion of the Company's annual audit.

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 in 47 states.

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

and quantified. The financial

guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release.

Chief Financial Officer

Vice President, Investor Relations