MBF Healthcare Acquisition Corp
MBF Healthcare Acquisition — SPAC Merger (June 2008)
26 slides from MBF Healthcare Acquisition's SPAC merger presentation, Jun 25, 2008
Slide 1: Acquisition of Critical Homecare Solutions
DRAFT CONFIDENTIAL MBF Healthcare Acquisition Corp. Acquisition of Critical Homecare Solutions June 24, 2008 Healthcare Acquisition Corp.
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may include statements regarding anticipated and future developments that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those contained in forward-loo
Slide 3: Agenda
Agenda Executive Summary Overview of Critical Homecare Solutions Financial Overview Summary Questions & Answers Healthcare Acquisition Corp.
Slide 4: I. Executive Summary
I. Executive Summary
Slide 5: Additional Information & Participants in Solicitation
Additional Information & Participants in Solicitation Additional Information and Where to Find It On June 3, 2008, MBH filed an amended preliminary proxy statement concerning the proposed transaction, which is subject to review by the Securities and Exchange Commission. MBH stockholders and other in
Slide 6: CHS Investment Considerations
CHS Investment Considerations Healthcare Acquisition Corp. Founded in 2006 by five senior homecare executives with over 100 years of combined healthcare experience Phenomenal growth from inception with pro forma revenue quadrupling to $203.4mm in 2007 from $49.8mm in 2006 20% same store pre-corporat
Slide 7: CHS Executive Management Team
CHS Executive Management Team Members 15 51 210 79 110 243 137 158 247 120 120 120 170 170 170 200 200 200 Healthcare Acquisition Corp.
Slide 8: Why Home Infusion?
Why Home Infusion? 15 51 210 79 110 243 137 158 247 120 120 120 170 170 170 200 200 200 Healthcare Acquisition Corp. All payors seek the most cost effective quality settings, which includes home based community care
Slide 9: Overview of Critical Homecare Solutions
Healthcare Acquisition Corp. Overview of Critical Homecare Solutions Local business model serving 16,000 patients with 450 payor relationships Note: 1 Pro forma numbers reflect the acquisitions completed through December 31, 2007 as if they had been completed as of January 1, 2007. Wilcox acquisitio
Slide 10: Evolution of Critical Homecare Solutions
Evolution of Critical Homecare Solutions Founded in August 2006, CHS has become one of the largest home infusion players Incorporated in Delaware on August 8, 2006 Started operations with the acquisitions of Specialty Pharma and New England Home Therapies Demonstrated ability to integrate both large
Slide 11: Home Infusion Overview
Prescription Reimbursement Services Information & Services Home Infusion Overview 15 51 210 79 110 243 137 158 247 120 120 120 170 170 170 200 200 200 Healthcare Acquisition Corp. Home infusion therapy includes subcutaneous, intravenous and epidural administration of medications for treatment of a b
Slide 12: Home Infusion Market
Home Infusion Market CHS is one of the 4 largest providers in highly fragmented space and the largest privately owned provider Of the 75% "Others" category listed below, approximately 15% have revenues greater than $20mm1 Industry Dynamics Highly Fragmented Market1, 2 Consolidation opportunity Scarc
Slide 13: Market Opportunities
Market Opportunities Why is the infusion industry the right fit? Fragmented industry (75% independently owned) Favorable industry organic growth rates (6%-7% annually) Favorable, diversified payor mix Managed care (70% of IV mix) Medicare (18% of IV mix) Industry: 60%-65% Managed care, 12%-17% Medic
Slide 14: Attractive Payor Mix
Attractive Payor Mix Consolidated Payor Mix Home Infusion Payor Mix Managed Care 0.51 Medicare 0.29 Medicaid 0.2 Managed Care 0.72 Medicare 0.17 Medicaid 0.11 Healthcare Acquisition Corp. Attractive payor mix with approximately 450 payor relationships Relationships with approximately 450 payors, inc
Slide 15: Organic Growth Strategy
Organic Growth Strategy Focus on High Value Infusion Therapies Anti-infective Therapy, Total Parenteral Nutrition, and Enteral Nutrition (Tier I) 53% of infusion business comprised of these three therapies Continued improvement and focus on the Tier I therapy mix Market share gains achieved at the l
Slide 16: Acquisition Growth Strategy
Acquisition Growth Strategy Healthcare Acquisition Corp. Continue to execute on highly successful business strategy that emphasizes acquisition growth Consistently apply disciplined approach to each opportunity Acquire leading independent home infusion providers in contiguous and other strategic mar
Slide 17: Highlights of Acquisition Capabilities
Highlights of Acquisition Capabilities Deal sourcing Overall industry contacts, knowledge of competitive landscape and premier providers 5 of first 9 deals, CHS was the only buyer Acquisition criteria Location Product and payor mix Size Local management Quality of receivables Growth opportunities Du
Slide 18: Attractive Expansion Opportunities
Attractive Expansion Opportunities Target Markets Target leading home infusion providers located in attractive markets adjacent to existing businesses Approximately 2/3 of the industry's expansion opportunities lie in existing presence and targeted growth areas Existing presence Growth areas Existin
Slide 19: Current Acquisition Pipeline
Current Acquisition Pipeline Deep pipeline of attractive acquisitions opportunities Goal to close four to six deals per year Healthcare Acquisition Corp.
Slide 20: III. Financial Overview
Ill. Financial Overview a
Slide 21: Strong Financial Performance
Strong Financial Performance Achieved strong growth and profitability through the successful implementation of its business strategy Pro Forma Revenue1 ($ millions) Pro Forma Pre-Corporate EBITDA1,2,3 ($ millions) Pro forma for all acquisitions completed through 12/31/07; EBITDA excludes stock optio
Slide 22: Strong Operating Performance
1st Qtr CHS 0.18 Option Care 0.061 Coram 0.0252 Critical Care Systems 0.076 EBITDA Margin Strong Operating Performance Notes: 1 Twelve months ended 12/31/07; post-corporate EBITDA Q1 2008A at 18.6% 2 Six months ended 06/30/07 3 Apria purchased Coram for ~$350 million, approximately 0.7x Coram's 2007
Slide 23: Financial Summary
Financial Summary 1 The pro forma income statements reflect each acquisition as if it had been completed as of January 1, 2005. EBITDA, as referenced above, represents as adjusted EBITDA. Pro forma adjustments in the related determination have been determined in accordance with the definition provid
Slide 24: IV. Summary
IV. Summary 2 y y Moricns Rexeiten Cop, Ca Honea Soon, 28
Slide 25: Investment Highlights
Investment Highlights Healthcare Acquisition Corp.
Slide 26: V. Questions & Answers
V. Questions & Answers