Acelity L.P. Inc. 10-Q Quarterly Report May 2016


•	Revenue for the first quarter of 2016 of $451.4 million, grew 1.6% as reported on a GAAP basis and 3.0% on a constant currency basis, from the prior-year period


•	Revenue from Advanced Wound Therapeutics ("AWT") grew 0.5% as reported on a GAAP basis and 2.1% on a constant currency basis, led by solid volume growth in advanced wound devices compared to the prior-year period


•	Revenue from Regenerative Medicine ("RM") grew 5.5% as reported on a GAAP basis and 5.8% on a constant currency basis, due primarily to higher volumes associated with breast reconstruction procedures


•	Net loss was $26.0 million, as reported on a GAAP basis, up from $4.5 million net loss in the prior-year period, due primarily to the impact of foreign currency exchange rate movements on the revaluation of our Term E-1 EURO loan


•	Adjusted EBITDA¹ of $161.0 million, declined 2.9% as reported from the prior-year period and 2.2% on a constant currency basis primarily due to investments being made in our franchise structure and sales force to drive growth

Operational Highlights


•	The Company refinanced its Senior Term E-2 Credit Facility due November 4, 2016 with the proceeds from the offering of $400.0 million of 7.875% First Lien Senior Secured Notes due 2021. Additionally, the Company extended a portion of its Revolving Credit Facility by one year to November 4, 2017.

•

Announced a partnership with Mediq to exclusively distribute Acelity’s advanced wound care and regenerative medicine portfolio in Denmark, Finland, Norway and Sweden. The alliance with Mediq, a leading homecare and medical device delivery company, offers Acelity access to Mediq’s specialized knowledge, expertise and network in the region and allows Acelity to expand operations in the post-acute environment.

Joe Woody, President and Chief Executive Officer, commented, “We begin 2016 with significant momentum, having achieved our sixth consecutive quarter of organic revenue growth driven by strong volumes in advanced wound devices, significant growth in sales of expansion products, and double digit growth in revenue from breast reconstruction procedures. Looking ahead to the remainder of the year, we will continue to invest in our people, our innovation pipeline and our business to strengthen our unique therapeutic portfolio to deliver cost-effective solutions to patients around the world.”

The following information was filed by Acelity L.P. Inc. on Tuesday, May 3, 2016 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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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Acelity L.P. Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.3: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

CIK: 1557939
Form Type: 10-Q Quarterly Report
Accession Number: 0001557939-16-000084
Submitted to the SEC: Tue May 03 2016 9:56:35 PM EST
Accepted by the SEC: Wed May 04 2016
Period: Thursday, March 31, 2016
Industry: Surgical And Medical Instruments And Apparatus