January 28, 2015 1:18 PM ET

Healthcare Providers and Services

Company Overview of Capella Healthcare, Inc.

Company Overview

Capella Healthcare, Inc., through its subsidiaries, provides general and specialized acute care, outpatient, and other medically necessary services in the United States. Its hospitals offer various general acute care services, including, internal medicine, general surgery, cardiology, oncology, orthopedics, neurology, diagnostic, and emergency services, as well as women’s services. The company’s hospitals also provide tertiary services, such as open-heart surgery; and outpatient and ancillary healthcare services comprising outpatient surgery, laboratory, home health, radiology, respiratory therapy, and physical therapy, as well as operate psychiatric, skilled nursing, and rehabilitation beds...

501 Corporate Centre Drive

Suite 200

Franklin, TN 37067

United States

Founded in 2005

4,220 Employees

Phone:

615-764-3000

Fax:

615-764-3030

Key Executives for Capella Healthcare, Inc.

Chief Executive Officer
Age: 49
Co-Founder and Executive Chairman
Age: 56
Co-Founder and Executive Vice President of Acquisitions & Development
Age: 54
Co-Founder
Age: 65
Chief Financial Officer
Age: 52
Compensation as of Fiscal Year 2014.

Capella Healthcare, Inc. Key Developments

Capella Healthcare, Inc. Enters into Credit Agreement

Capella Healthcare, Inc. entered into a credit agreement, by and among the company, as borrower, Capella Holdings, Inc., as a guarantor, Credit Suisse AG, Cayman Islands Branch, as administrative agent, and certain other lenders from time to time party thereto. The term loan credit agreement establishes a new senior secured term loan facility consisting of a $100,000,000 seven-year term loan. The per annum interest rates applicable to borrowings under the term loan facility are periodically determined at the company's election as either (a) the LIBO Rate (as defined in the term loan credit agreement) plus 4.25% or (b) the Base Rate (as defined in the Term Loan Credit Agreement) plus 3.25%. The term loan facility is to be repaid in equal quarterly principal payments of $250,000, with the balance to be paid at maturity. The maturity date applicable to borrowings under the term loan facility is the earlier to occur of (a) December 31, 2021, and (b) February 16, 2017, if, as of such date, the Company's 9 /% Senior Unsecured Notes have not been refinanced in full with certain permitted debt. The term loan facility is generally subject to mandatory prepayment in amounts equal to: (a) 100% of the net cash proceeds received from certain asset sales (including insurance recoveries and condemnation events), subject to reinvestment provisions and customary exceptions; (b) 100% of the net cash proceeds from the issuance of new debt (other than certain permitted debt); and (c) 50% of the company's excess cash flow (as defined in the term loan credit agreement), with step-downs to (i) 25% and (ii) 0% based on the secured net leverage ratio (as defined in the term loan credit agreement). The company's obligations under the term loan facility are unconditionally guaranteed by all of the company's material domestic wholly-owned subsidiaries, provided that a guarantor subsidiary may be released if certain conditions are met. The company also entered into an amended and restated loan agreement (the ABL agreement), by and among the company, the borrowing subsidiaries signatory thereto, the guarantying subsidiaries signatory thereto, the lenders party thereto, and Bank of America, N.A., as agent for the lenders. The ABL agreement amends, restates, and replaces in its entirety that certain $100,000,000 Loan and Security Agreement, dated as of June 28, 2010 (as previously amended, the Prior ABL Agreement), by and among the company and certain borrowing subsidiaries as borrowers, certain guarantying subsidiaries as guarantors, certain financial institutions party thereto from time to time as lenders, and Bank of America, N.A., as agent for the lenders.

Capella Healthcare, Inc. Presents at Bank of America Merrill Lynch 2014 Leveraged Finance Conference, Dec-02-2014 04:10 PM

Capella Healthcare, Inc. Presents at Bank of America Merrill Lynch 2014 Leveraged Finance Conference, Dec-02-2014 04:10 PM. Venue: Boca Raton Resort & Club, 501 East Camino Real, Boca Raton, Florida, United States. Speakers: Daniel S. Slipkovich, Co-Founder and Executive Chairman, Michael A. Wiechart, Chief Executive Officer, President and Director.

Capella Healthcare, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Full Year 2014

Capella Healthcare, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter, the company’s revenues were $195.1 million compared to $184.8 million a year ago. Income from continuing operations before income taxes was $6.1 million against $0.8 million a year ago. Net profit attributable to the company was $4.7 million against net loss of $5.1 million a year ago. Adjusted EBITDA was $30.8 million, compared to $27.1 million in the same prior year period. For the nine months, the company’s revenues were $569.8 million, compared to $545.0 million in the same prior year period. Loss from continuing operations before income taxes was $4.0 million against $6.4 million a year ago. Loss from continuing operations was $6.8 million against $9.6 million a year ago. Net loss attributable to the company was $9.7 million against $17.2 million a year ago. Net cash provided by operating activities-continuing operations was $16.7 million against $9.9 million a year ago. Net cash provided by operating activities was $13.5 million against $7.0 million a year ago. Purchases of property and equipment, net were $17.6 million against $21.5 million a year ago. Adjusted EBITDA was $77 million, compared to $71.2 million in the same prior year period. The company raises full year 2014 adjusted EBITDA Guidance to $100 million to $103 million.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
October 13, 2014
98% stake in Hartsville HMA, LLC and 100% stake in Hartsville Medical Group, LLC
 

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