Advancing Connected Health Solutions
Transaction Summary (continued)
Purchase
Consideration
Financing
Sources
Financial
Highlights
Timing
Solara purchase price of $425 million
$362.5 million in cash
$62.5 million in common stock issued to current owners including Linden Capital
Management
ActivStyle purchase price of $62 million paid in cash
Funded with a balanced mix of debt and equity on attractive terms, including commitments from
new and existing equity investors and lenders, supporting future growth
■ Committed debt financing from core lender group for a $240 million incremental Term Loan A
$287.5 million in equity to be issued at a weighted average price of $14.18 per share
$225 million in common and non-voting stock from One Equity Partners and Deerfield
Management
$62.5 million in common stock issued to Solara owners
Expected to be significantly accretive to growth, earnings and cash flow in the first full year
Transactions expected to contribute Adjusted EBITDA and EBITDA less Patient Equipment
Capex of approximately $60 million and $55 million, respectively, in 2021
Includes expected run-rate cost synergies of approximately $7 million
■ Total Pro Forma LTM net leverage at close of approximately 2.9x1
Expected to close during Q3 2020
1.
Includes full year impact of acquisitions and expected run-rate cost synergies
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