Isec Healthcare Ltd · SGX:40T
Isec Healthcare — 9M 2016 Earnings Presentation
26 slides from Isec Healthcare's earnings presentation, November 2016
Slide 1: Corporate Presentation
Corporate Presentation 9 months ended 30 September 2016 Page 0
Slide 2: Sponsor disclaimer
This presentation has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”), for compliance with the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Thank You Listing Manual Section B: Rules o
Slide 3: Table of Content
Table of Content Business Overview Industry Overview Business Strategy and Expansion Plans Corporate Developments and Use of Proceeds 9 months ended 30 September 2016 Financial Highlights Page 2
Slide 4: Business Overview
Thank You Business Overview Page 3 3
Slide 5: Business Overview
Business Overview • ISEC is a comprehensive medical eye care service provider, with ambulatory surgical centres in Malaysia (Kuala Lumpur, Penang & Malacca) and provides specialist medical ophthalmology services to Lee Hung Ming Eye Centre in Gleneagles Hospital (Singapore) • We specialise in the fi
Slide 6: Competitive Strengths of the Group
Business Overview Competitive Strengths of the Group 1 Highly qualified and experienced specialist doctors 6 Business model aligns the 2 interests of our High quality and specialist doctors with comprehensive range of our Group and eye care services Shareholders 5 Ability to replicate our 3 Well pos
Slide 7: Industry Overview
Thank You Industry Overview Page 6 6
Slide 8: Key Drivers for Private Ophthalmology
Industry Overview Key Drivers for Private Ophthalmology AGEING POPULATION with large elderly 25.9% of population in Malaysia above 40 years old in 2013, expected to patient group suffering from cataract, grow at CAGR of 1.7% from 2013 to 2018 glaucoma, AMD, dry eyes or vitreoretinal diseases as th
Slide 9: Key Drivers for Private Ophthalmology (cont'd)
Industry Overview Key Drivers for Private Ophthalmology (cont’d) Medical tourism based healthcare expenditure forecast to grow at 26.7% GOVERNMENT SUPPORT IN PROMOTING CAGR from 2009 to 2018 in Malaysia MEDICAL TOURISM leading to generation of additional demand for medical services Medical touri
Slide 10: Business Strategy and Expansion Plans
Thank You Business Strategy And Expansion Plans Page 9 9
Slide 11: Our Business Strategies
Our Business Strategies To reach more patients in locations where we currently Growing the ISEC operate, as well as new locations such as major cities or Brand and locations in Peninsular Malaysia, East Malaysia and Singapore Expanding into To expand via setting up of subsidiaries, JV, expand ex
Slide 12: Expansion Plans
Expansion Plans Business expansion in the Asia pacific region (including Malaysia Malaysia & and Singapore) Singapore Target Countries Page 11
Slide 13: Corporate Developments and Use of Proceeds
Thank You Corporate Developments and Use of Proceeds Page 12 12
Slide 14: Corporate Developments
Corporate Developments October 2016 – Shareholders’ approval was obtained to acquire 100% of the shares of JL Medical (Bukit Batok) Pte. Ltd., JL Medical (Sembawang) Pte. Ltd., JL Medical (Woodlands) Pte. Ltd. and JL Medical (Yew Tee) Pte. Ltd. (collectively, “JLM Companies”) by ISEC Healthcare Ltd.
Slide 15: Corporate Developments: Acquisition of JLM Companies (cont'd)
Corporate Developments October 2016 – Acquisition of 100% of the shares of the JLM Companies by ISEC Healthcare Ltd. (Cont’d) Summary of the acquisition (Cont’d) • Each of the Vendors had provided a profit guarantee for the benefit of the Company in respect of the audited profit after tax (“APAT”) o
Slide 16: Whitewash Resolution and Rationale for the acquisition
Corporate Developments October 2016 – Acquisition of 100% of the shares of the JLM Companies by ISEC Healthcare Ltd. (Cont’d) Whitewash Resolution and Whitewash Waiver • The Company had on 7 October 2016 obtained approval from independent Shareholders for the Proposed Whitewash Resolution for the wa
Slide 17: Use of Proceeds
Use of Proceeds As at 4 November 2016 Amount allocated pursuant to reallocation of Use of proceeds Amount unutilised listing Amount allocated expenses utilised Balance S$’000 S$’000 S$’000 S$’000 Business expansion in Asia Pacific region (including Malaysia and 13,800 300 (5,478) (N1) 8,622 Singapor
Slide 18: 9 Months Financial Highlights
Thank You 9 Months Financial Highlights for the period ended 30 September 2016 Page 17 17
Slide 19: Revenue
Revenue SGD’mil 9M2016 vs 9M2015 Group revenue was higher. The increase was attributable to higher revenue contribution from Malaysia operations. Southern Specialist Eye Centre (“SSEC”) which was acquired on 8 December 2015 contributed S$3.1 million to the Group’s revenue in 9M2016. Revenue from S
Slide 20: Revenue – Malaysia
Revenue – Malaysia RM’mil SGD’mil 32.2% 23.2% Revenue from Malaysia operations in Ringgit Malaysia (“RM”) increased from RM42.9 million in 9M2015 to RM56.7 million in 9M2016, up 32.2% mainly due to increased number of patients visits in ISEC KL and ISEC Penang and the inclusion of results from SSE
Slide 21: Revenue – By location/clinic (Malaysia)
Revenue – By location/clinic (Malaysia) RM’mil Note: (1) On 8 Dec 2015, the Group completed the acquisition of SSEC Page 20
Slide 22: Revenue – By location/clinic (Group)
Revenue – By location/clinic (Group) SGD’mil Notes: (1) On 8 Dec 2015, the Group completed the acquisition of SSEC (2) ISEC Eye – revenue from Lee Hung Ming Eye Centre (3) ISEC Sg – revenue from ISEC Singapore (which ceased operations in October 2015) Page 21
Slide 23: EBITDA and Profit After Tax (PAT)
Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) and Profit After Tax (PAT) SGD’000 EBITDA was S$7.2 million in 9M2016 as compared to S$4.9 million in 9M2015 mainly due to the revenue contribution from SSEC in 9M2016 (9M2015: nil), increased patient visits in Malaysia operations
Slide 24: Cash Position
Cash Position Total cash and cash equivalents Unutilised IPO proceeds Cash balances SGD’mil Total cash and cash equivalents as at 30 September 2016 was S$26.9 million. No debts. Cash balances (exclude unutilised IPO proceeds) increased from S$16.1 million as at 31 Dec 2015 to S$18.3 million as a
Slide 25: Statement of Financial Position
Statement of Financial Position S$’000 30 September 31 December 2016 2015 Key Assets Plant and equipment 3,741 3,639 Intangible assets^ 24,787 25,162 Trade and other receivables 1,881 1,905 Cash and cash equivalents 26,929 24,924 Key Liabilities Trade and other payables 2,680 3,410 Equity Total equi
Slide 26: Thank You
Thank You Thank You Page 25 25