Attached files
| file | filename |
|---|---|
| 8-K - FORM 8K - UNITED SURGICAL PARTNERS INTERNATIONAL INC | d309309d8k.htm |
| EX-99.1 - EXCERPT OF A CONFIDENTIAL INFORMATION MEMORANDUM ISSUED BY THE COMPANY - UNITED SURGICAL PARTNERS INTERNATIONAL INC | d309309dex991.htm |
 USPI
March 2012
Excerpts from Lender Presentation
Exhibit 99.2 |
 SAFE
HARBOR STATEMENT This presentation contains forward-looking statements,
including those regarding United Surgical Partners
International, Inc. and the services it provides. Investors
are cautioned not to place an undue reliance on these
forward-looking statements, which will speak only as of
the date of this presentation. United Surgical Partners
International, Inc. undertakes no obligation to publicly
revise these forward-looking statements.
2 |
 NON-GAAP MEASUREMENT
We
have
used
the
non-GAAP
financial
measurement
term
“EBITDA.”
EBITDA
is calculated as operating income plus net gain (loss) on deconsolidations,
disposals, impairments and depreciation and amortization. USPI uses EBITDA
and EBITDA less noncontrolling interests as analytical indicators for
purposes of allocating resources and assessing performance. EBITDA is
commonly used as an analytical indicator within the health care industry and
also serves as a measure of leverage
capacity
and
debt
service
ability.
EBITDA
should
not
be
considered
as
a
measure of financial performance under generally accepted accounting principles,
and the items excluded from EBITDA could be significant components in
understanding and assessing financial performance.
Because EBITDA is not a measurement determined in accordance with
generally
accepted
accounting
principles
and
is
thus
susceptible
to
varying
calculation methods, EBITDA as presented by USPI may not be comparable to
similarly titled measures of other companies.
3 |
 U.S.
ADJUSTED EBITDA 1
BRIDGE
1
Adjusted EBITDA less noncontrolling interest
2
Includes adjustments for non-recurring expenses: $2.7mm Titan deal costs and
$4.0mm de novo start-up losses 3
Full year 2011 EBITDA from acquisitions expected to close by 3/31/12
FY 2011 ($mm)
4
$190.2
$212.9
2.0
1.2
0.7
0.1
10.0
8.7
EBITDA
2
WCAS Mgt
Fee
Equity
Compensation
France Deal
costs
Refinance
costs
Full year 2011
acquisitions
Full year 2012
acquisitions
3
Adjusted
EBITDA
1 |