Quality. Compassion. Care. Capio IPO. December, Olof Bengtsson, Capio AB (Publ)

Transcription

1 Quality. Compassion. Care. Capio IPO Olof Bengtsson, Capio AB (Publ) December,

2 Capio today A leader in European healthcare One of Europe s leading healthcare companies About 12,400 employees and 4.6 million patient visits in Sweden, Norway, France and Germany Offers a broad range of medical, surgical and psychiatric care of high quality in our hospitals, specialist clinics and primary care units Strong well established brand, recognized for high quality and Modern Medicine one of the sector s strongest brands in Europe The European challenge is not going to ease demographic squeeze is driving need and costs. Large opportunities for efficient quality private providers Addressing the large efficiency differences between Capio s markets is the key productivity opportunity Footprint (2014) Sales: SEK 13.2 billions 37% 9% France 8 emergency hospitals 12 local hospitals 3 specialist clinics 54% Paris Lyon Toulouse Bergen Marseille Sweden 1 emergency hospital 2 local hospitals 27 locations for specialist care 23 locations for psychiatric care 77 locations for primary care Norway 6 medical centers 2 specialist clinics Oslo Goteborg Hamburg Berlin Munchen Stockholm Germany 5 general hospitals 4 specialist clinics 2 hospitals with rehabilitation and care facilities 7 outpatient clinics (Medical Care Centers, MCC) 1

3 Experience across all care levels University hospital Emergency hospital Local hospital Specialist clinic Primary care unit With services across the care pathway, Capio seeks to improve productivity by applying its medical model to enable increased quality, revenue growth and margins 2

4 Long term financial track record ( ) Average organic sales growth 4.2% Net sales growth CAGR 8.8% EBITDA growth CAGR 9.6% EBITA growth CAGR 13.5% 3

5 Capio has changed since 2006 Dimension Capio 2006 Capio 2015 Examples today Quality and productivity Good intentions Medical strategy The Capio Model concrete methods and process frameworks at all levels Specialization and integration Dispersed Consolidated and integrated Care provided at the right level and sufficient scale Integrated care across the healthcare chain and business areas The right environment Partly neglected Built for the future Significant real estate investments in France to enable volume growth, and EBITDA improvement Organization and accountability Centralized leadership Decentralized leadership and process ownership/ responsibilities Profit centers where responsibility is matched with decision-making authority and resources Decentralized P&L and quality responsibility Performance management Financial result P&L CF BS Measuring financials Systematic use of KPIs and QPIs Continues to improve through benchmarking and transferring of best-practice by use of KPIs and QPIs Publishing of quality reports Capio has a clear and proven model to address the challenges of European Healthcare 4

6 The IPO 5

7 Why the Stock Exchange? Increased governance and transparency for patients, employees and payors Natural long term home for a company active in public domain Full access to equity and debt capital markets for future expansion 6

8 Key process steps INTERNAL Exit consideration Owners, Board and management IPO readiness internal and external Business plan Reporting and governance Due diligence financial and legal Equity story Internal Communication Capital structure and financing Auditors Financial reports EXTERNAL Advisors financial and legal Stock Exchange contacts + audit Prospectus Analysts External Communication Roadshow Pricing Book building 7

9 Key marketing and positioning steps in the IPO Road Show Prospectus Early look presentation EARLY LOOK PRESENTATION Analyst presentation ANALYST PRESENTATION Pilot fishing PILOT FISHING PRESENTATION Pre-marketing Capio IPO 2014 OFFERING SHARES IN ROADSHOW PRESENTATION All of these steps are extremely important Requires a lot involvement of the top management team, both in preparations and execution 8 Florence

10 Some IPO conclusions Prospectus Governs your IPO communication Keep a tight grip small working group Limited pro formas and historical financials Financial Reports Annual Report prepare Quarterly Report practice report and on process KPI s which to present? Financial targets IR function and analyst education Accessibility Consensus estimates CSR demands 9

11 and finally the words of advice Many work streams simultaneously Clear responsibilities important Massive coordination of the large group involved required CFO main point of contact in most process steps Consider appointing IPO General as first point of contact Do not lose focus on the business A lot of work but also a very positive and engaging process for the company 10