Acelity L.P. Inc. (1557939) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2015

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Acelity L.P. Inc.
CIK: 1557939

ACELITY L.P. INC. REPORTS

THIRD QUARTER AND FIRST NINE MONTHS FINANCIAL RESULTS FOR 2015

Total Revenue Grew 3.3% on a Constant Currency Basis

Third Quarter Financial Highlights


•	Revenue of $477.7 million, down 0.9% as reported on a GAAP basis from the prior-year period and grew 3.3% on a constant currency basis


•	Revenue from Advanced Wound Therapeutics (“AWT”), down 1.9% as reported on a GAAP basis, grew 3.1% on a constant currency basis, led by mid-single digit volume increases compared to the prior-year period


•	Revenue from Regenerative Medicine (“RM”) grew 4.5% as reported on a GAAP basis, and 5.9% on a constant currency basis, led by high-single digit increases in revenue related to breast reconstruction procedures


•	Operating earnings of $106.1 million, up 20.0% as reported on a GAAP basis from $88.3 million in the prior-year period


•	Adjusted EBITDA from continuing operations¹ of $187.5 million, down 2.3% as reported from the prior-year period and grew 0.9% on a constant currency basis, achieving an Adjusted EBITDA margin of 39.2%

Operational Highlights

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Reinforced the strategy of geographic expansion with double-digit growth in advanced wound dressings, driven by strong performance in markets outside the U.S. In addition, Acelity entered into a strategic commercial partnership with GHD GesundHeits GmbH Deutschland (“GHD”) to distribute Acelity’s advanced wound dressings portfolio in Germany. The partnership with GHD, the largest provider of homecare services in Germany, offers Acelity access to serve GHD’s breadth of customers in both acute and post-acute care settings.


•	Expanded our product offerings in Brazil by obtaining approval to sell Strattice^TM, an acellular reconstructive tissue matrix designed to assist in soft-tissue procedures to reinforce tissue where weakness exists and promote tissue regeneration.

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Expanded Acelity’s industry-leading product portfolio with additions to three renowned brands in order to provide clinicians more options when treating patients— Strattice™ Reconstructive Tissue Matrix Perforated (U.S.), a shorter Prevena™ dressing for smaller, anatomically-challenging incisions (U.S. and Europe) and TIELLE® Silicone Border (Europe), a hydropolymer foam dressing for increased patient comfort with exudate absorption.

Joe Woody, President and Chief Executive Officer, commented, “The execution of our strategy continues to drive momentum for our business and is reflected in our strong performance in the third quarter.

“Our core business continues to deliver solid results led by good volume progression in advanced devices, as well as strength in both Regenerative Medicine and advanced wound dressings. Sales of our expansion products, led by PREVENA™ and REVOLVE™, are at record levels and provide nice diversification to our traditional product offerings. We are investing in our franchise structure to drive more focus towards both organic and inorganic near adjacencies. Outside of the United States, we advanced the development of our global platform with double-digit revenue growth in our emerging markets. These results are a testament to the fact that our portfolio of products continues to meet the needs of a growing, global population. Our presence in

The following information was filed by Acelity L.P. Inc. on Tuesday, October 27, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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