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July 03, 2015 4:54 PM ET

Healthcare Equipment and Supplies

Company Overview of DJO Finance LLC

Company Overview

DJO Finance LLC develops, manufactures, and distributes medical devices that provide solutions for musculoskeletal health, vascular health, and pain management worldwide. Its Bracing and Vascular segment offers rigid knee bracing products, orthopedic soft goods, cold therapy products, vascular systems, therapeutic shoes and inserts, and compression therapy products under the DonJoy, ProCare, Aircast, Dr. Comfort, Bell-Horn, and Exos brands. This segment sells its products to orthopedic and sports medicine professionals, hospitals, podiatry practices, orthotic and prosthetic centers, home medical equipment providers, and independent pharmacies. The company’s Recovery Sciences segment offers h...

1430 Decision Street

Vista, CA 92081

United States

4,940 Employees

Phone:

800-336-5690

Key Executives for DJO Finance LLC

Chief Executive Officer, President, Manager and Director
Age: 50
Chief Financial Officer, Executive Vice President, Treasurer and Manager
Age: 57
Executive Vice President of Global Quality & Operations
Age: 50
President of International Commercial Business
Age: 50
President of Global Recovery Sciences
Age: 51
Compensation as of Fiscal Year 2015.

DJO Finance LLC Key Developments

DJO Global, Inc. Announces Early Tender Results for the Exchange Offer and Consent Solicitation with Respect to Senior Subordinated Notes Issued by DJO Finance LLC and DJO Finance Corporation

DJO Global Inc. announced the results, as of 5:00 p.m., New York City time, on April 29, 2015 (the 'Early Tender Deadline'), of the private offer (the 'Exchange Offer') by its indirect wholly owned subsidiaries, DJO Finance LLC (DJOFL) and DJO Finance Corporation (together with DJOFL, the 'Issuers') to exchange their 9.75% Senior Subordinated Notes due 2017 (the 'Old Notes') for (i) their new 10.75% Third Lien Notes due 2020 (the 'New Notes') and (ii) cash and the solicitation (the 'Consent Solicitation') of consents (the 'Consents') from registered holders of Old Notes to certain proposed amendments to the indenture (the 'Old Notes Indenture') governing the Old Notes. The Issuers were advised by the exchange agent for the Exchange Offer that, as of the Early Tender Deadline, a total of $298,436,000 aggregate principal amount of outstanding Old Notes, representing approximately 99.48% of the outstanding Old Notes, were validly tendered (and not validly withdrawn) in the Exchange Offer. These holders also delivered their Consents to the Proposed Amendments with respect to the Old Notes tendered. As of the Early Tender Deadline, the Issuers have received the requisite number of Consents in order to adopt the Proposed Amendments. Therefore, upon the terms and subject to the conditions of the Exchange Offer and the Consent Solicitation, the Issuers, the guarantors party thereto and the trustee for the Old Notes will enter into a supplemental indenture to the Old Notes Indenture giving effect to the Proposed Amendments on the applicable settlement date for the Exchange Offer. Holders whose Old Notes were tendered in the Exchange Offer and who delivered Consents prior to the Early Tender Deadline will receive $1,000 principal amount of New Notes and $20 in cash for each $1,000 principal amount of Old Notes tendered, plus accrued and unpaid interest in cash in respect of their exchanged Old Notes from the last applicable interest payment date to, but not including, the applicable settlement date for the Exchange Offer. The Exchange Offer will expire at midnight, New York City time, on May 13, 2015, unless extended (the 'Expiration Date'). The Consent Solicitation expired at the Early Tender Deadline. Holders who tender their Old Notes after the Early Tender Deadline but prior to or on the Expiration Date will received $1,000 principal amount of New Notes and $10 in cash for each $1,000 principal amount of Old Notes tendered, plus accrued and unpaid interest in cash in respect of their exchanged Old Notes from the last applicable interest payment date to, but not including, the applicable settlement date for the Exchange Offer. The New Notes will be issued by the Issuers and guaranteed by all of DJOFL’s existing and future domestic subsidiaries that will guarantee the Issuers’ new senior secured credit facilities (as described in the Offering Circular).

DJO Finance LLC Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 28, 2015; Provides Earnings Guidance for the Full Year 2015

DJO Finance LLC announced unaudited consolidated earnings results for the first quarter ended March 28, 2015. The company achieved net sales for the first quarter of 2015 of $280.1 million, reflecting negative growth of 0.9%, compared with net sales of $282.7 million for the first quarter of 2014. Net sales for the first quarter of 2015 were unfavorably impacted by $12.0 million related to changes in foreign currency exchange rates compared to the rates in effect in the first quarter of 2014. Excluding the impact of changes in foreign currency exchange rates from rates in effect in the prior year period (constant currency), net sales for the first quarter of 2015 increased 5.0% on a sales per day basis compared to net sales for the first quarter of 2014. The first quarter of 2015 included 62 shipping days in the United States and 61 shipping days in most international markets, while the comparable 2014 period included 63 days. Adjusted EBITDA for the first quarter of 2015 was $59.0 million, or 21.1% of net sales, reflecting -1.1% growth when compared with Adjusted EBITDA of $59.7 million, or 21.1% of net sales, for the first quarter of 2014. On a constant currency basis, Adjusted EBITDA grew 4.0% in the first quarter of 2015. For the first quarter of 2015, DJOFL reported a net loss attributable to DJOFL of $35.5 million, compared to a net loss of $36.5 million for the first quarter of 2014. Operating income was $20.077 million against 410.202 million a year ago. Loss before income taxes was $26.895 million against $33.549 million a year ago. The company expected constant currency revenue and adjusted EBITDA growth rates in the mid-single digits for the full year 2015. The company expected sales and adjusted EBITDA for the full year of 2015 to be negatively impacted by approximately 400 to 500 basis points. However, at current foreign exchange rates, The company expects positive growth in full year sales and adjusted EBITDA driven by core business growth.

DJO Finance LLC, DJO Global Inc., Q1 2015 Earnings Call, Apr 20, 2015

DJO Finance LLC, DJO Global Inc., Q1 2015 Earnings Call, Apr 20, 2015

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