Accendra Health, Inc. · NYSE:ACH
Accendra Health — Owens & Minor — Merger or Acquisition (January 2022)
9 slides from Accendra Health's merger presentation, Jan 10, 2022
Slide 1: Acquisition of Apria, Inc.
ACQUISITION OF APRIA, INC. JANUARY 10, 2022 Exhibit 99.2
Slide 2: Safe Harbor
Safe Harbor This presentation is intended to be disclosure through methods reasonably designed to provide broad, non-exclusionary distribution to the public in compliance with the SEC's Fair Disclosure Regulation. This presentation contains certain ''forward-looking'' statements made pursuant to the
Slide 3: Business Overview - Apria Geographic Footprint
Business Overview - Apria Geographic Footprint A leading provider of integrated home healthcare equipment and related services in the U.S. Offers a comprehensive range of products and services for in-home care and delivery across: Home respiratory Obstructive sleep apnea (OSA) Negative pressure woun
Slide 4: Business Breakdown - Apria 2020 Revenue Mix
Business Breakdown - Apria 2020 Revenue Mix Obstructive Sleep Apnea Treatment Negative Pressure Wound Therapy 4% Home Medical Equipment & Other Services 14% Commercial 78% Medicare 21% Medicaid 1% 2020 Payor Mix 3
Slide 5: Strategic Rationale
Strategic Rationale Combination Creates a Leading Platform in the Home Healthcare Market Expands Patient Direct platform for growth Broadens Patient Direct portfolio Expands presence in the higher-growth, higher-margin home health business Increases attractiveness to payor panels, providers and pati
Slide 6: Transaction Summary
Transaction Summary Equity Purchase Price $1.45 billion Adjusted EBITDA Adds in excess of $230 million in annualized adjusted EBITDA EV Multiple ~7x 2022E EV / annualized adjusted EBITDA Funding Cash on hand plus committed debt Approvals Apria stockholder vote and customary regulatory approvals incl
Slide 7: Annualized Financial Impact (pre-synergies)
Annualized Financial Impact (pre-synergies) Adding approximately $1.2 billion of annual net revenue Adds in excess of $230 million in incremental adjusted EBITDA, implying ~20% margin Annual capex requirements of ~$100 million FCF generation > $80 million Leverage Ratio to increase to just under 4x
Slide 8: Integration / Combined Business
Integration / Combined Business Well-positioned across key product categories with strong underlying growth drivers Expands offerings across chronic and acute conditions, with opportunities to treat overlapping conditions for patients More expansive geographic reach Expands payor relationships Bring
Slide 9: Conclusion
Conclusion 1 7 2 3 4 5 6 Strengthens Owens & Minor value proposition – enables us to better serve entire patient journey Diversifies revenue stream and increases exposure to rapidly expanding home healthcare market Immediately creates a market leader in highly fragmented home health space poised for