Infratil Limited · NZX:IFT
Infratil — Merger or Acquisition (October 2020)
16 slides from Infratil's merger presentation, Oct 26, 2020
Slide 1: Acquisition of Qscan Group Investor Presentation
Acquisition of Qscan Group Investor Presentation 26 October 2020
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Infratil Limited (NZ company number 597366, NZX:IFT; ASX:IFT) (Company). To the maximum extent permitted by law, the Company, its affiliates and each of their respective affiliates, related bodies corporate, directors, officers, partners, employees a
Slide 3: Disclaimer
Disclaimer Financial data This presentation contains certain financial information relating to Qscan Group Holdings Pty Limited (Qscan), which has been derived from both audited and unaudited financial information relating to Qscan. This presentation contains pro forma historical financial informati
Slide 4: Transaction Summary
Transaction Summary Infratil to • Infratil has executed a conditional offer to acquire up to 60% of Qscan Group Holdings (‘Qscan’), a comprehensive diagnostic imaging practice throughout Australia, from Quadrant Private Equity ('QPE’) and acquire up to existing doctor and management shareholders, fo
Slide 5: Transaction Process
Transaction Process Infratil to The transaction process involves two steps: acquire up to • On 24 October, Infratil and MGIF executed a Binding Offer Deed, under which Infratil and MGIF made a conditional offer to enter into an agreed form Share Sale Agreement to acquire up to 75% of Qscan 60% of •
Slide 6: Investment Thesis
Investment Thesis This is an idea that matters Diagnostic imaging meets a growing, critical social need Potential to become a growth platform for Infratil High quality entry point to build a scale healthcare infrastructure platform • Strong healthcare systems are essential to a well-functioning • Di
Slide 7: Qscan Snapshot
Qscan Snapshot Overview • Qscan is a comprehensive diagnostic imaging business operating predominantly on the eastern seaboard of One of Australia. Qscan is one of Australia’s largest radiology providers, operating over 70 clinics across Australia, including a network of 10 clinics offering PET (Onc
Slide 8: Diagnostic Imaging: An essential, growing industry offering attractive rewards for consolidation
Diagnostic Defensive Revenues Healthcare is an essential service globally of which radiology is a key pillar in disease identification, prevention Imaging • and monitoring An essential, • Demand for diagnostic imaging services is non-discretionary and therefore largely dictated by the level of incid
Slide 9: A High Quality Entry Point
A High Quality Entry Point Employer of Choice Qscan is a • Differentiated employee proposition Strong track-record of radiologist attraction, having added over market leader in • 20 radiologists in the last 2 years a growth • High radiologist advocacy – broader radiologist community perceives Qscan
Slide 10: Strategically Advantaged Partnership Model
Strategically Advantaged Qscan provides a complete infrastructure and services platform for doctors Partnership Clinic Network Equipment Systems Corporate Services Model 70+ clinics High quality, hospital- Infrastructure Sophisticated Integrated and Qscan is the Radiographers Sonographers grade equi
Slide 11: Highly Qualified Team: Leading medical professionals and a high quality executive team
Highly Qualified Clinical Leadership High Quality Executive Team Team • Diversified cohort of doctors with a reputation for Leading medical operational excellence and deep subspecialty expertise Chris Munday - CEO • Joined Qscan in 2017 professionals • Representation on both the Professional Practic
Slide 12: Historical Financial Profile
Historical Financial Revenue1 EBITDA1 Profile 250 60 20% A focus on high ~13% CAGR 16% 18% 50 200 value modalities, 150 40 clinic rollout and 30 expansions has 100 20 delivered annual 50 10 revenue growth - 2018 2019 2020 - 2018 2019 2020 CT MRI • Strong growth driven by new clinic rollout and NucMe
Slide 13: Portfolio Strategy
Portfolio Strategy 11% Renewable Energy Infratil’s diversified portfolio has 10% 33% Data & Connectivity demonstrated its resilience and is Infratil is well Sector Airport positioned to perform during a positioned in Social Infrastructure sustained slowdown and subsequent Other recovery scalable hig
Slide 14: Funding and Liquidity
Funding and Pro-forma Capitalisation Liquidity (NZ$ Million) As at 31 March 2020 As at 30 Sept 2020 Pro Forma 30 Sept 20201 • Infratil raised additional equity of NZ$300 million in June 2020 Following the Net bank debt 471 86 439 • The equity raise proceeds were initially applied Infratil Infrastruc
Slide 15: Summary
Summary Qscan provides a Infratil Acquisition of Qscan Group high-quality • Infratil has executed a conditional offer to acquire up to 60% of diagnostic imaging business Qscan Group Holdings from Quadrant Private Equity and existing Doctor and Management shareholders for total cash equity entry poin
Slide 16: Glossary
Glossary AI Artificial intelligence CT Computed tomography (a computerized x-ray imaging procedure) DR Diagnostic radiology MBS Medicare Benefits Schedule Magnetic resonance imaging, a medical imaging technique used in radiology to form pictures of the MRI anatomy and the physiological processes of