Monash Ivf Group Ltd · ASX:MVF
Monash Ivf — Investor Presentation (April 2020)
34 slides from Monash Ivf's investor presentation, Apr 27, 2020
Slide 1: Equity raising
Sample title Sample subtitle, you can add a custom image on the right by Growing stronger clicking the image icon together… Equity raising 27 April 2020 Monash IVF Group Limited ACN 169 302 309 1
Slide 2: Disclaimer
Disclaimer This investor presentation ("Presentation") is dated 27 April 2020 and has been prepared by Monash IVF Group Limited ACN 169 302 309 (Monash IVF or the Company). Summary Information: This Presentation contains summary information about certain current activities of Monash IVF and its subs
Slide 3: Disclaimer
Disclaimer Key assumptions: Certain information in this presentation, particularly forward looking information, is based on general and specific assumptions. General assumptions include those customary when preparing such information, including no material changes to the competitive or regulatory en
Slide 4: Executive summary
Executive summary ▪ Group FY20YTD trading through to February, and volumes through to 25 March 2020, were materially in line with previous guidance1 ▪ However, non-urgent elective surgery restrictions announced on 25 March 2020 by the National Cabinet and the subsequent recommendation by the Fertili
Slide 5: Executive summary
Executive summary ▪ Launch of a fully underwritten ~$80m equity raising (Equity Raising or Offer) comprised of an institutional placement and accelerated pro rata non-renounceable entitlement offer ▪ Syndicated Debt Facility (expiring January 2022) amended to suspend covenant testing until 30 June B
Slide 6: Trading update
Trading update ▪ Group FY20YTD trading through to February 2020, and volumes through to 25 March 2020, were largely in line with previous guidance ▪ Monash IVF’s unaudited revenue for February YTD was $100.4m, up 0.3% on pcp ▪ Australian ARS activity was relatively stable through to 25 March 2020 ▪
Slide 7: Impact of COVID-19 and Monash IVF response
Impact of COVID-19 and Monash IVF response ▪ In response to COVID-19, Monash IVF implemented a range of measures designed to protect the health and safety of its patients, employees and doctors ▪ On 25 March 2020, for public safety reasons, the FSA recommended postponing of patients planning to star
Slide 8: Investment thesis remains strong
Investment thesis remains strong Monash IVF is one of the largest providers of Assisted Reproductive Services in Australia and Malaysia Business lines Highlights ▪ Core business – Assisted reproductive services encompass a range of techniques used to assist patients Market share position1 Assisted e
Slide 9: Australian growth opportunity
Australian growth opportunity Australian ARS, ultrasound and diagnostics Organic / scientific leadership initiatives ▪ Recruitment of fertility specialists both through training initiatives and onboarding established specialists • 13 specialists are currently participating in our fertility specialis
Slide 10: South East Asian growth opportunity
South East Asian growth opportunity International ARS KL Fertility case study ▪ In 2012, Monash IVF acquired 65% of KL Fertility, the second ▪ Demonstrated growth in Malaysia largest fertility clinic in Malaysia Track record of growth ▪ At acquisition, KL fertility was a 2 doctor practice ▪ Original
Slide 11: Capital structure initiatives
Capital structure initiatives Equity raising Sources and uses of funds ▪ Fully underwritten ~$80m Equity Raising (Equity Raising or Offer) • ~$39.8m institutional placement (Placement) Source $m • ~$40.2m 1 for 3.05 accelerated pro rata non-renounceable entitlement offer Underwritten Placement proce
Slide 12: Equity Raising summary
Equity Raising summary ▪ Fully underwritten ~$80m equity raising (Equity Raising or Offer) • ~$39.8m institutional placement (Placement1) • ~$40.2m 1 for 3.05 accelerated pro rata non-renounceable entitlement offer (Entitlement Offer), including: Offer structure and size • Institutional entitlement
Slide 13: Equity Raising timetable
Equity Raising timetable Event Date Announcement of Offer and Trading halt, Institutional Entitlement Offer and Placement opens Monday, 27 April 2020 Institutional Entitlement Offer and Placement closes Monday, 27 April 2020 Trading halt lifted. Trading resumes on an “ex-entitlement” basis Tuesday,
Slide 14: Appendix 1: Pro-forma balance sheet
Appendix 1 Pro-forma balance sheet Monash IVF Group | Equity Raising 14
Slide 15: Pro-forma balance sheet as at 31 Dec 2019
Pro-forma balance sheet as at 31 Dec 2019 Pro-forma 31-Dec Equity 31-Dec Balance Sheet ($m) 2019 Raising1 2019 Cash and cash equivalents 5.0 5.0 Trade and other receivables 4.5 4.5 Inventory 4.0 4.0 Plant and equipment 20.0 20.0 Intangible assets 259.7 259.7 Right of use assets 19.7 19.7 Other asset
Slide 16: Appendix 2: Monash IVF Group fundamentals
Appendix 2 Monash IVF Group fundamentals Monash IVF Group | Equity Raising 16
Slide 17: Overview of Monash IVF Group
Overview of Monash IVF Group1 Monash IVF Group is a market leader in fertility Assisted Reproductive Services Diagnostic Ultrasound ▪ 25 clinics ▪ 2 specialised ▪ 17 clinics laboratories (VIC and ▪ 3 service centres SA) ▪ 17 sonologists ▪ 102 fertility specialists ▪ 4 Australian states & trainees ▪
Slide 18: Our Vision 2022
OUR VISION 2022 Monash IVF Group | Equity Raising 18
Slide 19: Monash Group's ongoing scientific leadership
Monash Group’s ongoing scientific leadership Monash IVF’s scientific leadership and innovation is demonstrated by our market leading KEY World first services and technologies Australia first 1958 1973 Monash IVF commenced ovulation stimulation program in Australia Monash IVF part of a team that achi
Slide 20: Appendix 3: Key risks
Appendix 3 Key risks Monash IVF Group | Equity Raising 20
Slide 21: Risks associated with Monash IVF's business and an investment in Monash IVF
Risks associated with Monash IVF’s business and an investment in Monash IVF This section describes some of the potential risks associated with Monash IVF's business and an investment in Monash IVF. If any of the risks eventuate, they could have a material adverse effect on Monash IVF's business, fin
Slide 22: Risks associated with Monash IVF's business and an investment in Monash IVF
Risks associated with Monash IVF’s business and an investment in Monash IVF Risk Description In each of the markets in which Monash IVF operates, there is a risk that: ▪ existing competitors may undertake aggressive marketing campaigns, product innovation or price discounting; ▪ new competitors may
Slide 23: Risks associated with Monash IVF's business and an investment in Monash IVF
Risks associated with Monash IVF’s business and an investment in Monash IVF Risk Description Monash IVF’s activities are regulated by Commonwealth Government legislation, State Government legislation and a number of professional and industry bodies. There is a risk that the regulations imposed on th
Slide 24: Risks associated with Monash IVF's business and an investment in Monash IVF
Risks associated with Monash IVF’s business and an investment in Monash IVF Risk Description Patients wishing to use Monash IVF’s services without private health insurance may experience higher total out-of-pocket expenses. As a result, Monash IVF’s revenues may be impacted by factors which adversel
Slide 25: Risks associated with Monash IVF's business and an investment in Monash IVF
Risks associated with Monash IVF’s business and an investment in Monash IVF Risk Description From time to time Monash IVF may undertake acquisitions consistent with its stated growth strategy. The successful implementation of acquisitions will depend on a range of factors including funding arrangeme
Slide 26: Risks associated with the equity raising
Risks associated with the equity raising Risk Description ▪ Macquarie Capital (Australia) Limited (ABN 79 123 199 548) (the Underwriter) is acting as underwriter, lead manager and bookrunner to the Offer. Monash IVF entered into an underwriting agreement with the Underwriter in respect of the Offer
Slide 27: Risks associated with the equity raising
Risks associated with the equity raising Risk Description ▪ a new circumstance arises which causes Monash IVF to give ASX an updated cleansing statement; ▪ an application is made by ASIC or another person for an order under Part 9.5 of the Corporations Act in relation to the materials of the Offer o
Slide 28: Risks associated with the equity raising
Risks associated with the equity raising Risk Description ▪ any of the materials relating to the Offer or any aspect of the Offer does not comply with the Corporations Act, the Listing Rules, ASIC modifications, ASX waivers or any other applicable law or regulation; ▪ there is a contravention by Mon
Slide 29: General risks
General risks Risk Description ▪ There are general risks associated with investments in equity capital such as Monash IVF shares. The trading price of Monash IVF shares may fluctuate with movements in equity capital markets in Australia and internationally. This may result in the market price for Mo
Slide 30: General risks
General risks Risk Description Changes in tax law (including GST and stamp duties), or changes in the way taxation laws are interpreted, may impact the tax liabilities of Monash IVF, Monash IVF may be Shareholder returns, the level of dividend imputation or franking, or the tax treatment of a Shareh
Slide 31: Appendix 4: International Offer Restrictions
Appendix 4 International Offer Restrictions Monash IVF Group | Equity Raising 31
Slide 32: International selling restrictions
International selling restrictions This document does not constitute an offer of New Shares of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Austr
Slide 33: International selling restrictions
International selling restrictions New Zealand ▪ This Presentation has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The new shares offered under the institutional placement are not being offered or s
Slide 34: International selling restrictions
International selling restrictions Switzerland The New Shares may not be publicly offered in Switzerland and will not be listed on the SIX Swiss Exchange or on any other stock exchange or regulated trading facility in Switzerland. Neither this document nor any other offering or marketing material re
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