March 05, 2015 11:00 PM ET

Healthcare Providers and Services

Company Overview of Aurora Diagnostics, LLC

Company Overview

Aurora Diagnostics, LLC, a specialized laboratory company, provides unsurpassed diagnostic, prognostic, and therapeutic information and services to physicians, hospital systems, and researchers in the United States. It offers pathology services, such as dermatopathology, gastrointestinal and hepatic pathology, hematopathology, and genitourinary; and pathology services to women’s health care providerpathology. The company also provides molecular diagnostic services that focus on pharmacogenomics, oncology, women’s health, and infectious diseases; and hospital-based clinical and management solutions, such as anatomic and clinical, professional component, and technical component pathology servi...

11025 RCA Center Drive

Suite 300

Palm Beach Gardens, FL 33410

United States

Founded in 2006

1,102 Employees

Phone:

866-420-5512

Fax:

561-626-4530

Key Executives for Aurora Diagnostics, LLC

Chief Executive Officer and President
Age: 66
Chief Information Officer and Senior Vice President
Age: 46
Special Advisor and Manager
Age: 68
Executive Vice President of Sales & Marketing
Age: 44
Compensation as of Fiscal Year 2014.

Aurora Diagnostics, LLC Key Developments

Aurora Diagnostics Announces New Credit Facility

Aurora Diagnostics announced that it has entered into a new five-year credit facility with Cerberus Business Finance, LLC effective July 31, 2014. The new agreement includes a $165,000,000 term loan and a $30,000,000 revolving credit line, as well as a $25,000,000 delayed draw term loan facility. Approximately $145,600,000 of the proceeds under the new credit facility were used to pre-pay all amounts outstanding under Aurora’s existing secured credit facility term loan and revolver. The balance of the proceeds under the new credit facility, including the availability under the revolving line of credit, will be used for potential future acquisitions and for Aurora’s general working capital and operational needs.

Aurora Diagnostics Reports Financial Results for the First Quarter Ended March 31, 2014

Aurora Diagnostics, LLC reported financial results for the first quarter ended March 31, 2014. Net revenue in the first quarter was $57 million compared to $61 million for the first quarter of the prior year, a decrease of approximately $4 million or 6%. Average revenue per accession decreased to $115 for the first quarter of 2014 from $117 for the same period in 2013, representing a $1.3 million reduction in net revenue. The decrease in the revenue per accession compared to the first quarter of '13 was primarily caused by reductions in Medicare reimbursement rates, including changes to the fee schedule effective January 1, 2014, and sequestration, which became effective April 1, 2013. Adjusted EBITDA was $7.6 million for the quarter ended March 31, 2014, compared to $7.7 million for the first quarter of 2013.

Aurora Diagnostics, LLC, Q1 2014 Earnings Call, May 20, 2014

Aurora Diagnostics, LLC, Q1 2014 Earnings Call, May 20, 2014

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