Quarterly summary slide 02 27 15 v3 (2) mls

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1. 4Q’14 & 2014 Earnings Call Supplemental Slides March 2, 2015 2. 4Q’14 & 2014 Financial Highlights 1 4Q’13 4Q’14 % Change 2013 2014 % Change Revenue…
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  • 1. 4Q’14 & 2014 Earnings Call Supplemental Slides March 2, 2015
  • 2. 4Q’14 & 2014 Financial Highlights 1 4Q’13 4Q’14 % Change 2013 2014 % Change Revenue $412m $612m +49% $1.5b $2.2b +46% Total prescriptions dispensed 188,000 208,000 +11% 722,000 797,000 +10% Gross margins 6.1% 6.7%  60 bps 5.9% 6.3%  40 bps Adjusted EBITDA $5.8m $10.5m +81% $19.0m $35.2m +85% Quarterly Results Annual Results
  • 3. 2 Fourth Quarter Results (1) Based on dispensed prescriptions only. (2) Gross profit / net sales (i.e., based on dispensed and serviced prescriptions). $412 $612 4Q13A 4Q14A Revenue EBITDA margin 1.4% $5.8 $10.5 4Q13A 4Q14A Adjusted EBITDA $126 $187 4Q13A 4Q14A Gross Profit /Prescription($ in millions) ($ in millions) 1.7%6.7%6.1% (1) Gross margin (2)
  • 4. 3 Balance sheet snapshot 2013 ($ in millions) Cash $9 Total debt $88 2014 $18 – December 31, * Includes a $63M draw on a $120M revolving line of credit *
  • 5. 2015 Guidance 4 2014 Results 2015 Guidance Implied Midpoint Growth Revenue $2.2b $2.8b - $3.1b *Includes $150-200M from 9 months of BioRx +34% Adjusted EBITDA $35.2m $63m - $67m *Includes $18-20M from 9 months of BioRx +85% *Assuming a March 31, 2015 close
  • 6. BioRx Transaction Review Announced February 26, 2015
  • 7. Transaction Summary 6 Target Purchase Price Consideration Management Anticipated Closing • BioRx, LLC • Specialty pharmacy and infusion services company that provides treatments for patients with ultra-orphan and rare, chronic diseases based in Cincinnati, Ohio • 2014 revenue of ~$227 million and EBITDA of ~$23 million • $315 million gross purchase price • $265 million adjusted purchase price - Net of future tax benefit of approximately $50 million - Represents ~11.5x trailing CY 2014 EBITDA • One year contingent earnout of additional $35 million in DPLO stock subject to an EBITDA-based target • $210 million in cash - Committed financing provided by GE Capital • $105 million in stock, representing ~4 million shares - Pro forma ownership of ~7% (pre-earnout) • Expected to be accretive to EPS in first full year post-close • BioRx co-founders have made multi-year commitments to help lead the Diplomat specialty infusion organization • The transaction is anticipated to close in the next 30-60 days • Subject to regulatory approvals and other customary closing conditions
  • 8. Strong Strategic Value For Diplomat 7 • Benefits Diplomat’s primary constituents: - Broadens patient offerings - Meets Pharma’s demand for multi-channel reach - Addresses Payors’ desires to shift site of care to a lower cost setting • Adds significant scale to our specialty infusion business - Diplomat is now one of the nation’s top specialty infusion providers • Provides ability to compete for national contracts • Offers both revenue and cost synergies • Increases exposure to higher margin businesses • Potential for addition of new disease states & therapeutic categories
  • 9. • Founded in 2004 • Unique additional limited distribution drugs • Focuses on treating small patient populations with rare diseases, which typically have complex treatment protocols at high costs, similar to Diplomat • Pure specialty & nutrition portfolio with strong immuno-therapy volume BioRx Snapshot $0 $50 $100 $150 $200 $250 Revenue History 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 8
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