Infratil Limited · NZX:IFT
Infratil — Merger or Acquisition (April 2021)
13 slides from Infratil's merger presentation, Apr 29, 2021
Slide 1: Acquisition of Pacific Radiology
Acquisition of Pacific Radiology Investor Presentation 29 April 2021
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Infratil Limited (NZ company number 597366, NZX:IFT; ASX:IFT) (Company). To the maximum extent permitted by law, the Company, its affiliates and each of their respective affiliates, related bodies corporate, directors, officers, partners, employees a
Slide 3: Disclaimer
Disclaimer Financial data This presentation contains certain financial information relating to Pacific Radiology Group Limited (‘Pacific Radiology’, ‘PRG’) which has been derived from both audited and unaudited financial information relating to Pacific Radiology. This presentation contains pro forma
Slide 4: Transaction Summary
Transaction Summary • Infratil has executed a conditional agreement to acquire between 50.1% and 60.0% of New Zealand Infratil to Diagnostic Imaging business Pacific Radiology Group Limited (‘Pacific Radiology’) from existing Doctor shareholders for total cash equity consideration of between $292 mi
Slide 5: Investment Thesis
Investment This is an idea that matters Diagnostic Imaging exhibits attractive characteristics Clear benefits of scale Thesis Infratil is developing a scale healthcare infrastructure platform • Strong healthcare systems are required for societies to function • Outlook for the Diagnostic Imaging sect
Slide 6: Snapshot
Snapshot Pacific Radiology Overview is New Zealand’s • With a heritage that dates back more than 65 years, Pacific Radiology is the largest private Diagnostic Imaging provider largest provider • in New Zealand Pacific Radiology operates 30 clinics in the South Island and 16 in the North Island, and
Slide 7: Investment Highlights
Investment 1 • Compared to many countries New Zealand has a diversified range of funding sources, Highlights New Zealand is an including ACC (for accident-related injuries), Public Hospitals, Ministry of Health (cancer Attractive Market screening), private healthcare insurance and direct patient fee
Slide 8: Highly Qualified Team
Highly Qualified Clinical Leadership High Quality Executive Team Team Leading medical • Pacific Radiology is held in high regard amongst Terry McLaughlin - CEO radiologists, referrers and funders for clinical and • Joined Pacific Radiology in 2018 professionals operational excellence • Extensive exp
Slide 9: Financial Profile
Financial Profile 200 Revenue 100 EBITDA 50.0% Track record of 180 160 90 80 45.0% 40.0% revenue growth 140 70 34.5% 35.0% underpinned by 120 60 24.6% 30.0% 24.5% 100 50 25.0% a focus on high 80 60 40 30 20.0% 15.0% value modalities 40 20 20 10 10.0% 5.0% - - - FY2019 FY2020 FY2021 FY2019 FY2020 FY2
Slide 10: Funding and Liquidity
Funding and Pro-forma Capitalisation Liquidity (NZ$ Million) As at 31 March 2021 Pro Forma 31 March 20211 Following the Net bank debt/(cash) 328 678 • Infratil’s investment in Pacific Radiology will Infratil Infrastructure bonds 1,155 1,155 initially be funded via a 12 month bridge transaction and I
Slide 11: Acquisition of Pacific Radiology
Acquisition of Pacific Infratil Acquisition of Pacific Radiology Radiology • Infratil has executed a conditional offer to acquire up to 60% of New Zealand Diagnostic Imaging business Pacific Radiology from existing Doctor shareholders for total cash equity consideration of up to $350 million New Zea
Slide 12: Glossary
Glossary ACC Accident Compensation Corporation CT Computed tomography (a computerised x-ray imaging procedure) CTC CT colonoscopy DEXA Dual energy x-ray absorptiometry DHB District Health Board DI Diagnostic Imaging EBITDA Earnings before interest, tax, depreciation and amortisation (prior to the im
Slide 13: www.infratil.com
www.infratil.com