Slide 1: Bank Meeting Proposed Amendment to Credit Agreement
© 2012 BioScrip Inc. All rights reserved. Bank Meeting Proposed Amendment to Credit Agreement
Slide 2: Disclaimer
© 2012 BioScrip Inc. All rights reserved. 2 Disclaimer The information contained herein has not been independently verified . The Company and its respective affiliates and representatives expressly disclaim any and all liability based, in whole or in part, on such information, errors therein, or omi
Slide 3: Agenda
© 2012 BioScrip Inc. All rights reserved. 3 Agenda ▪ Industry & Company Overview ▪ Amendment Request ▪ Mid Quarter Update: Q4 - 2016 ▪ Legislative Update: Cures Act ▪ Amendment Terms Overview
Slide 4: Industry & Company Overview
© 2012 BioScrip Inc. All rights reserved. 4 Industry & Company Overview
Slide 5: Infusion Industry Overview
© 2012 BioScrip Inc. All rights reserved. Infusion Industry Overview 5 • $10 billion home infusion market • Infusion market growing 5 - 7% annually • Highly fragmented market – Four large national providers of home infusion services – Significant consolidation opportunity with 800+ infusion companie
Slide 6: BioScrip National Footprint
© 2012 BioScrip Inc. All rights reserved. Bioscrip National Footprint 6 Nationwide Capabilities with Licensure to Dispense in All 50 States 58 Infusion Pharmacy Locations and 60+ Ambulatory Infusion Centers 100 Million Lives Under Contract 250+ Field Sales R esources Team of Regional Directors of St
Slide 7: Home Infusion – Lowest Cost Setting
© 2012 BioScrip Inc. All rights reserved. Home Infusion – Lowest Cost Setting 7 Focus on Cost Containment and Outcomes Infusion Therapy Savings per Episode ▪ Healthcare cost containment pressures from governmental, hospitals and managed care payors – Home infusion cost savings over outpatient clinic
Slide 8: Amendment Request
© 2012 BioScrip Inc. All rights reserved. 8 Amendment Request
Slide 9: Amendment Request
© 2012 BioScrip Inc. All rights reserved. 9 Amendment Request ▪ New CEO, Dan Greenleaf, implementing turnaround plan which is already having a positive impact on the Company’s cash flows ▪ The Company is in the beginning stages of an 18 to 24 month turn around ▪ Amendment provides near - term liquid
Slide 10: Mid Quarter Update
© 2012 BioScrip Inc. All rights reserved. 10 Mid Quarter Update
Slide 11: Mid Quarter Update: Q4-2016
© 2012 BioScrip Inc. All rights reserved. 11 Mid Quarter Update: Q4 - 2016 ▪ October and November operating performance has been very solid and is expected to produce Q4 results at the high end of our fourth quarter guidance previously provided: – Q4 Revenues between $232mm and $239mm – Q4 adjusted
Slide 12: Performance Update
© 2012 BioScrip Inc. All rights reserved. 12 Performance Update ▪ Synergies: By 12/31/16 we anticipate completion of all necessary actions to realize $17.0 million of synergies during the 2017 fiscal year ▪ In addition to the $17m in synergies we will realize in 2017, we also are on pace to fully re
Slide 13: Legislative Update
© 2012 BioScrip Inc. All rights reserved. 13 Legislative Update
Slide 14: Legislative Update: Cures Act
© 2012 BioScrip Inc. All rights reserved. 14 Legislative Update: Cures Act ▪ Cures Act was passed by Congress (Dec 2016) ▪ Cures impact on the Infusion industry is a significant reduction in Medicare reimbursement effective January 1, 2017 on specified drugs from AWP minus pricing down to ASP plus p
Slide 15: Amendment Overview
© 2012 BioScrip Inc. All rights reserved. 15 Amendment Overview
Slide 16: Amendment Overview
© 2012 BioScrip Inc. All rights reserved. 16 Amendment Overview ▪ Remove the $15.0MM block on the Revolving Credit Facility in exchange for allowing a $35.0MM First - Out Revolver which will partially repay the existing $75.0MM parri Revolver and reduce its commitment to $40.0MM ▪ The First - Out Re
Slide 17: Capitalization Table
© 2012 BioScrip Inc. All rights reserved. 17 Capitalization Table (dollars in millions) SOURCES: USES: $35.0 mm First Out Revolver 0.5$ Fees & Expenses 0.5$ (dollars in millions) Interest LIBOR Unused Pro Forma Capitalization Amount Leverage* Rate Floor Maturity Fee Cash 2.8$ Debt: $35.0mm First Out
Slide 18: Amendment Contact Info
© 2012 BioScrip Inc. All rights reserved. 18 Amendment Contact Info ▪ Legal documentation for the Amendment will be posted to Syndtrack in the next few business days ▪ The Company is requesting Consent by Tuesday, December 20 th by 4:00pm EST ▪ Consenting Lenders should email executed pdf copies of