Acelity L.P. Inc. Appoints Gaurav S. Agarwal as Group President, Businesses and Innovation
Dec 8 14
Acelity L.P. Inc. announced the appointment of Gaurav S. Agarwal as Group President, Businesses and Innovation, a newly-created role on the Acelity senior leadership team reporting directly to Joe Woody, President & CEO. In this role, Gaurav will lead the strategic direction for all Acelity businesses, including Advanced Wound Therapeutics and Regenerative Medicine. Gaurav will assume commercial responsibility for Acelity’s diverse product portfolio of innovative healing solutions and regenerative and reconstructive tissue matrices. He will drive Acelity’s product portfolio expansion to offer new and innovative solutions for the future of negative pressure therapies and adjacent technologies. Gaurav will oversee Acelity’s innovation pipeline, product portfolio strategy and execution, in addition to North American commercial operations. He will be responsible for creating and managing multiple development platforms across the business to continue to bring highly differentiated products, such as the CelluTome Epidermal Harvesting System, to market. Gaurav brings to Acelity nearly two decades of global business management in the healthcare industry. Most recently, he served as President, Orthopaedic Reconstruction for the Advanced Surgical Devices Division at Smith & Nephew.
Acelity L.P. Inc. Appoints Thomas Casey as Executive Vice President and Chief Financial Officer
Nov 10 14
Acelity L.P. Inc. announced the appointment of Thomas Casey, a well-respected financial leader, as Executive Vice President and Chief Financial Officer. Tom brings to Acelity 30 years of financial accounting, reporting, planning and analysis experience, which include nearly two decades of roles in senior leadership. Most recently, Tom served as Executive Vice President and CFO at Clear Channel where he was responsible for overseeing all financial, IT and shared services activities for the global media and entertainment company with more than $6 billion in annual revenue.
Acelity L.P. Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 4 14
Acelity L.P. Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the period, the company reported total revenue of $488,651,000 compared to $440,561,000 a year ago. Operating earnings were $90,620,000 compared to operating loss of $369,866,000 a year ago. Loss from continuing operations before income tax benefit was $2,603,000 compared to $486,825,000 a year ago. Loss from continuing operations was $1,837,000 compared to $398,306,000 a year ago. Net loss was $1,837,000 compared to $398,561,000 a year ago. Total adjusted EBITDA was $194,074,000 compared to $191,140,000 a year ago. The increase in revenues during the third quarter was due to the acquisition of Systagenix and a significant increase in volumes and customer win back activity in devices business. Adjusted EBITDA was higher in the third quarter compared to the same quarter last year, primarily due to the acquisition of Systagenix, volume growth from AWT devices and growth in breast reconstruction, focus products and emerging markets. The company generated $44 million of cash from operating activities, which was lower than the third quarter of 2013, due primarily to the first installment of Wake Forest settlement payments, which they made in July in the amount of $80 million.
For the nine months, the company reported total revenue of $1,401,361,000 compared to $1,289,124,000 a year ago. Operating earnings were $15,799,000 compared to operating loss of $323,203,000 a year ago. Loss from continuing operations before income tax benefit was $313,012,000 compared to $648,167,000 a year ago. Loss from continuing operations was $200,937,000 compared to $503,624,000 a year ago. Net loss was $200,937,000 compared to $505,923,000 a year ago. Net cash provided by operating activities was $105,031,000 compared to $135,495,000 a year ago. Additions to property, plant and equipment was $46,760,000 compared to $59,868,000 a year ago. Total adjusted EBITDA was $518,956,000 compared to $524,884,000 a year ago.