April 26, 2017 3:00 AM ET

Healthcare Providers and Services

Company Overview of InfuSystem Holdings Inc.

Company Overview

InfuSystem Holdings Inc., through its subsidiaries, provides infusion pumps, and related products and services in the United States and Canada. It supplies electronic ambulatory infusion pumps and associated disposable supply kits to oncology clinics, infusion clinics, hospital outpatient, and chemotherapy clinics for the treatment of various cancers, including colorectal cancer, pain management, and other disease states. The company also sells, rents, and leases new and pre-owned pole mounted and ambulatory infusion pumps; and provides biomedical recertification, maintenance, and repair services for oncology practices, as well as other alternate site settings comprising home care and home i...

31700 Research Park Drive

Madison Heights, MI 48071

United States

Founded in 2005

238 Employees

Phone:

248-291-1210

Key Executives for InfuSystem Holdings Inc.

Chief Executive Officer, President and Director
Age: 59
Total Annual Compensation: $548.4K
Chief Operating Officer, Executive Vice President, Compliance Officer and Privacy Officer
Age: 58
Total Annual Compensation: $377.5K
Compensation as of Fiscal Year 2015.

InfuSystem Holdings Inc. Key Developments

Infusystem Holdings Inc. Enters into Second Amendment to the Credit Agreement with JPMorgan Chase Bank, N.A

On March 22, 2017, InfuSystem Holdings Inc. and its direct and indirect subsidiaries, entered into a Second Amendment to the Credit Agreement with JPMorgan Chase Bank, N.A., as lender which amends the credit agreement among the Company, its direct and indirect subsidiaries, and the Lender, entered into on March 23, 2015 (the Credit Agreement). The Second Amendment amends the Credit Agreement to, among other things: (i) amend the definition of Fixed Charges in Section 1.01 of the Credit Agreement by deleting the phrase therein that reads as follows: plus prepayments and scheduled principal payments on Indebtedness actually made (excluding the prepayment on any debt paid as a result of entering into this Agreement) and replacing such phrase therein with the phrase plus scheduled principal payments on Indebtedness actually made (excluding the prepayment on any debt paid as a result of entering into this Agreement) (ii) restate Section 6.12(a) of the Credit Agreement as follows: (a) Leverage Ratio. The Borrowers will not permit the Leverage Ratio to exceed (i) 3.0 to 1.0 at any time on or after the Effective Date but prior to December 31, 2015, (ii) 2.75 to 1.0 at any time on or after December 31, 2015 but prior to March 31, 2018, (iii) 2.50 to 1.0 at any time on or after March 31, 2018 but prior to March 31, 2019 or (iv) 2.25 to 1.00 at any time on or after March 31, 2019.

InfuSystem Holdings Inc. Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides CapEx Guidance for 2017

InfuSystem Holdings Inc. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net revenues of $16.854 million against $18.742 million a year ago. Operating loss was $0.454 million against operating income of $2.488 million a year ago. Loss before income taxes was $0.797 million against income before income taxes of $2.221 million a year ago. Net loss was $0.473 million or $0.02 per basic and diluted share against net loss of $1.525 million or $0.07 per basic and diluted share a year ago. EBITDA was $2.358 million against $4.926 million a year ago. Adjusted EBITDA was $2.916 million against $5.167 million a year ago. Adjusted net loss was $0.218 million or $0.01 per basic and diluted share against adjusted net income of $1.554 million or $0.07 per basic and diluted share a year ago. For the year, the company reported net revenues of $70.497 million against $70.541 million a year ago. Operating income was $0.974 million against $7.280 million a year ago. Loss before income taxes was $0.364 million against income before income taxes of $3.989 million a year ago. Net loss was $0.222 million or $0.01 per diluted share against net loss of $2.785 million or $0.12 per diluted share a year ago. Net cash provided by operating activities was $7.909 million against $7.054 million a year ago. Purchases of medical equipment were $5.101 million against $4.198 million a year ago. Purchases of property and equipment were $0.168 million against $0.314 million a year ago. Purchases of intangible assets were $3.526 million against $5.733 million a year ago. EBITDA was $11.724 million against $13.937 million a year ago. Adjusted EBITDA was $13.037 million against $17.201 million a year ago. Adjusted net income was $0.297 million or $0.01 per basic and diluted share against $4.367 million or $0.19 per basic and diluted share a year ago. For 2017, the company expects that it should spend less than $4 million in CapEx, including IT investment, and that should get $7 million to $8 million in free cash flow to repay the debt. The company expects that EBITDA will increase throughout the year and get progressively better each quarter.

InfuSystem Holdings Inc. Presents at 8th Annual Life Science Chief Executive Officer Forum, Mar-24-2017 11:00 AM

InfuSystem Holdings Inc. Presents at 8th Annual Life Science Chief Executive Officer Forum, Mar-24-2017 11:00 AM. Venue: San Diego, California, United States. Speakers: Eric K. Steen, Chief Executive Officer, President and Director.

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