Garofalo Health Care S.p.a. · MIL:GHC
Garofalo Health Care — Credit Suisse Global Healthcare Conference - London 2019
19 slides from Garofalo Health Care's conference presentation, Mar 5, 2019
Slide 1: Credit Suisse Global Healthcare Conference - London
Credit Suisse Global Healthcare Conference - London March 5, 2019 La salute è il bene più prezioso che l’uomo possa avere
Slide 2: Disclaimer
Disclaimer This presentation and any materials distributed in connection herewith (together, the “Presentation”) may contain “forward-looking statements”, which include all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-l
Slide 3: Today's attendees
Today’s attendees Maria Laura Garofalo Alessandro M. Rinaldi Chief Executive Officer Chairman • CEO since 2000 • Appointed Chairman of GHC's BoD in July 2018 • Various key positions in the healthcare industry • CEO of GBL Fiduciaria S.p.A. - Credit Agricole since 1991 Indosuez Group • Through the es
Slide 4: Highlights
Highlights 1 GHC: 60-year heritage and a track record of organic growth and via M&A’s for 20+ years, continuing post-IPO Business model: services and geographic diversification in well-invested facilities with cutting-edge 2 equipment led by top professionals with a patient-centered approach Continu
Slide 5: Strongly improved 2018 results, M&A strategy already in full progress
Strongly improved 2018 results, M&A strategy presented on IPO already in full progress with 2 acquisitions completed Elements presented at IPO Post-IPO development Business model: services and geographic ✓ diversification in well-invested facilities with • Additional investment made in new cutting-e
Slide 6: 60-year heritage and track record of organic growth and M&A
GHC: 60-year heritage and a track record of organic growth 1 and via M&A’s for 20+ years, continuing post-IPO… 1957 1999 2000 2002 2005 2008 2011 2012 2013 2014 2016 2017 2018 2019 Set up of GHC Garofalo Group established IPO 3 new Expansion of Completion and Refurbishment Completion of €73.5m raise
Slide 7: Services and geographic diversification with best-in-class financial performances
…allowing GHC to benefit from services and geographic 1 diversification with best-in-class financial performances Garofalo Health Care (GHC) Group(1) Attractive Geographical Footprint • Leading private accredited patient 19 Patient Care Facilities Villa Garda Villa Berica care group in Italy Garda (
Slide 8: Patient-centered model: wide spectrum of health and social care services
Patient-centered model: wide and diversified spectrum of 2 health and social care services... Revenues breakdown by: 76.0% HOSPITAL 22.5% 1.5% Sectors HOSPITAL TERRITORIALDEPENDENCY CARE AND SOCIAL ASSISTANCE OTHER REVENUES Acute Care Post POSTAcute ACUTE Residential DISTRICT District Outpatient Ren
Slide 9: Well-invested facilities with cutting-edge equipment
... in well-invested facilities with cutting-edge 2 equipment... Well-invested facilities with premium quality standards Comprehensive Real Estate ownership allows for high “stability” Medical Imaging Surgery (general and specialized) 15 fully-owned €79m book value of facilities facilities and 3 ren
Slide 10: Led by top professionals, reinforcing reputation for quality patient care
...led by top professionals, to build and reinforce GHC’s 2 reputation for the highest quality patient care Renowned medical team contributing to the field of research Quality and clinical excellence recognition ✓ GHC doctors are extremely active in the field of medical and scientific research… Lead
Slide 11: Organic growth projects presented at IPO on track
3 Organic growth projects presented at IPO on track... Project value Description Project update presented at IPO ▪ L’Eremo di Miazzina owns the facilities 1 ▪ Building taken into Progress of the Eremo di Miazzina and Istituto Raffaele possession, tender to Project (2018) Garofalo (IRG) Project be fi
Slide 12: Launch of new Villa Garda expansion project in 2019
3 …and launch of new Villa Garda expansion project in 2019 Description Purposes Project value 3 ▪ Obtained 16 additional accredited beds ▪ Increase volumes and for the care of outside-Region eating revenues thanks to disorder patients 16 new accredited beds for outside- ▪ Expansion activities on the
Slide 13: Two acquisitions quickly completed post-IPO
4 Two acquisitions quickly completed post-IPO... Poliambulatorio Dalla Rosa Prati Casa di Cura Prof. Nobili Cash consideration €17.9m Cash consideration €2.6m % 100% % 42.8%(1) Acquisition timeline Acquisition timeline • 21/12/2018 (IPO+42 days): preliminary contract signed • 07/01/2019 (IPO+59 days
Slide 14: New premium facility headquartered in Parma, Emilia-Romagna
…including a new premium facility headquartered in 4 Parma in the Emilia-Romagna Region… Facility Highlights Ideal Geographic Positioning • Diagnostic Centre that welcomes approximately 600 patients per day GHC facilities located in the Emilia-Romagna Region • Main activities provided: • specialist
Slide 15: Same strategy and M&A discipline presented at IPO
...in accordance with the same strategy and M&A 4 discipline presented at IPO Consistency of the M&A strategy with the one presented at IPO Consistency of the M&A discipline with the one presented at IPO ✓ ✓ ❑ Stand-alone centers ✓ Experienced Direct and skilled involvement of team of ❑ Size: Outpat
Slide 16: Extensive M&A pipeline with 20 targets under analysis
Extensive M&A pipeline with 20 targets under analysis in 5 Italy’s strongest Regions M&A Pipeline Current M&A negotiations ongoing #20 Target Target ✓ Poliambulatorio Dalla Rosa Prati under analysis #1 Target Preliminary due diligence ongoing #2 Target Non binding offer sent – #3 Exclusivity agreeme
Slide 17: 2018 preliminary results: growth, strong cash generation, solid financial structure
2018 preliminary results delivered substantial growth, 6 strong cash generation and solid financial structure Unique combination of growth boosted by M&A… …best-in-class profitability… CAGR 2016 – 2018 Revenues (€m), Op. EBITDA(1) (€m) and margin evolution (%) 3.0% 13.6% 18.0% 18.8% Revenues 11.7% 1
Slide 18: Streamlined organisational processes delivered post-IPO
Streamlined organisational processes delivered post-IPO to 7 ensure support to Group companies and seamless integration New automatic procedures and control systems to speed up integration processes in view of new acquisitions Legend Committee for Committee for risk Strategic Committee Board of Stat
Slide 19: BoD fully functioning post-IPO, STAR compliant governance
BoD fully functioning post-IPO, ensuring alignment with 8 elevated Corporate Governance standards (STAR compliant) • CEO since 2000 • CEO GBL Fiduciaria (Credit Agricole Indosuez Group) • CEO of Villa Von Siebenthal • 30+ years financial markets experience • 10+ years of healthcare experience • 30+
Garofalo Health Care — Credit Suisse Global Healthcare Conference - London 2019 on 6ix