Sonic Healthcare Limited · ASX:SHL

Sonic Healthcare — Investor Presentation (October 2005)

8 slides from Sonic Healthcare's investor presentation, Oct 18, 2005

  1. Slide 1: Placement of Shares & SPP

    S T R I C TL Y P R I V A T E AN D C O N F I D E N T I A L PLACEMENT OF SHARES & SPP 18 OCTOBER 2005

  2. Slide 2: Summary

    Summary „ On 23 August 2005 Sonic announced an agreement to acquire 80-85% of Clinical Pathology Laboratories, Inc. (CPL) „ Following satisfaction of conditions precedent including US anti-trust and CPL shareholder approval, Sonic successfully completed the CPL acquisition on 30 September 2005 „ Son

  3. Slide 3: Clinical Pathology Laboratories (CPL)

    Clinical Pathology Laboratories (CPL) „ CPL is the largest regional independent laboratory in the USA „ CPL is the one of the largest independent clinical laboratories in the United States „ CPL enjoys a leadership position in Texas, with significant growth opportunities in contiguous markets „ CPL’

  4. Slide 4: Key Acquisition Terms

    Key Acquisition Terms Key transaction terms Commentary „ Key CPL management and existing pathologists will retain 18% „ Sonic has initially acquired 82% of CPL „ Sonic will acquire the minority interests progressively over a period of 3 years (2009-2012) „ Purchase price equates to ~9.5 times prospe

  5. Slide 5: Ownership Structure

    Ownership Structure Ownership Ownership structure structure „ Following satisfaction of conditions precedent including US anti-trust and CPL shareholder approval, Sonic completed the CPL acquisition on 30 September 2005 „ Sonic acquired an initial interest in CPL of 82% on an EV/EBITDA multiple of ~

  6. Slide 6: Acquisition funding

    Acquisition funding Acquisition Acquisition funding funding „ The acquisition required funding certainty „ ANZ Bank and JPMorgan provided a six month US$ debt facility „ Today Sonic is raising A$200 million through the issue of fully paid ordinary shares „ Share placement to domestic and internation

  7. Slide 7: Share placement

    Share placement Share placement Timetable Offer structure Institutional Placement Book opens 1.00pm, Tues 18 Oct Issuer Sonic Healthcare Limited (“SHL”) Book closes (domestic) 5.00pm, Tues 18 Oct Distribution of placement allocations From midnight, Tues 18 Books open / close 1.00pm – 5.00pm Tues 18

  8. Slide 8: Capital structure

    Capital structure Capital Capital structure structure „ Sonic’s gearing prior to the share placement is approximately 52% (includes the short term CPL acquisition facility) „ Immediately following the Placement and SPP, Sonic’s pro-forma gearing ratio will fall from ~52% to ~40% „ Sonic will offer i

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