2016 ANNUAL SHAREHOLDER MEETING
2016 ANNUAL SHAREHOLDER MEETINGMay 5, 2016Inpatient Rehabilitation HospitalsAdult Home Health LocationsHospice LocationsPediatric Home Health LocationsFuture Inpatient Rehabilitation Hospitals(7 Under Development)1
2015: A Year of Significant GrowthExpansion into Home HealthExpansion of IRF PortfolioAcquiredDecember 31, 2014AcquiredNovember 2, 2015AcquiredOctober 1, 2015 4th largest provider of Medicarecertified skilled home health servicesin the U.S. 44 home health and 3 hospicelocations in 7 states acrossthe southeast and mid-atlanticregions 11 hospitals with a total of 902 beds Best-in-class home health provider;high-quality patient outcomes andoperating efficiency Infrastructure to facilitate growth Exceptional culture: Winner ofmultiple “Best Places to Work”awardsOther Developmental Activities Opened 4 new home health locationsand 2 hospice locations Acquired 10 home health locationsand 2 hospice locations 14 new overlap markets withexisting HealthSouth IRFs Increased geographic coverage inprominent Texas markets Added new markets inMassachusetts and OhioAcquisitions / JointVentures1. Cardinal Hill RehabilitationHospital in Lexington, KY2. Memorial Health in Savannah,GA3. West Tennessee HealthcareSystem in Jackson, TN4. Mount Carmel Health System inWesterville, OH5. St. John Health System in BrokenArrow, OK6. CHI St. Vincent Hot Springs inHot Springs, AR7. St. Joseph Health System inBryan, TXDe Novo8. Franklin, TN Bed expansions Added 85 net beds to existinghospitals2
and Significant AchievementIRF QualityHome Health QualityDischarge to CommunityUDSMRHealthSouthPercentage ofcases dischargedto community,including homeand home withhome health orhome hospicecare. Higher isbetter.PatientSatisfactionStar RatingsQuality of CareStar RatingsQuality of Care97% of Encompass' home healthagencies are 3 Stars or higherDischarge to Skilled NursingUDSMRHealthSouthDischarge to Acute Hospital3Percentage ofpatientsdischarged toskilled nursingfacilities. Lower isbetter.Percentage ofpatientsdischarged toacute carehospital. Lower isUDSMRbetter. Onaverage, HLSHealthSouthtreats higher acuitypatients.Patient Satisfaction99% of Encompass' home healthagencies are 3 Stars or higherEncompassNational Average
and Significant Achievement 2015 was the first yearfor HealthSouth to benamed to ModernHealthcare’s list of bestemployers in thehealthcare industry. This was Encompass’fourth year to be nameda “Best Places to Work”award winner.Encompass receivedthis honor in 2014,2013 and 2011.4
and Significant AchievementAdjusted EBITDARevenue( millions)( millions) 31.5% 18.2%Adjusted Free Cash FlowAdjusted EPS( millions) 8.7%5 25.0%
Priorities for 2016GROWTH Integrate Reliant and CareSouth ("pause" on additional large acquisitions) Achieve organic growth at existing hospitals and home health/hospiceagencies Acquire and construct new hospitals and acquire and open new homehealth/hospice agenciesHighest Priority(In Millions)IRF bed expansionsGrowthin CoreBusiness20162015ActualsAssumptionsActuals 4.1 20 to 30 20.817.370 to 9047.8—0 to 20786.2—30 to 40200.2 21.4 120 to 180 1,055.0New IRF’s- De novos- AcquisitionsNew home health and hospiceacquisitions6Q1 2016
Inpatient Rehabilitation FacilitiesHome Health and Hospice# of New Beds201620172018De Novo:Modesto, CAPearland, TXMurrieta, CAJoint Ventures:Hot Springs, ARBroken Arrow, OKBryan, TXWesterville, OHJackson, TNBed Expansions, 40—6048100288—————100150December 31, 2015AcquisitionsDe NovoMerged / Closed LocationsMarch 31, 2016# oflocations213—1(1)213 Anticipate investing 30 million – 40million to acquire new agencies Began operating 27-bed IRF unit in Hot Springs, AR in February 2016 Joint venture with CHI St. Vincent Hot Springs Will relocate unit to new 40-bed hospital when construction is completed (expected Q3 2016) Expanded existing hospitals by 50 beds 40 beds in Cincinnati, OH 10 beds in Johnson City, TN (Quillen)7* Net bed expansions in each year may change due to the timing of certain regulatory approvals and/or construction delays.
Priorities for 2016CAPITAL STRUCTURE Reduce financial leverage (target: 4.0x by YE 2016) Continue shareholder distributions2022 senior notes are fully callable: Redeemed 50 million in March 2016 126 million remaining as of March 31,2016 Will complete additional 50 millionredemption in May 2016DebtReductionDebt redemptions (borrowings), netLeased property purchasesQ1 2016Actuals2016Assumptions2015Actuals 55.3 TBD (1,060.3)—TBD—21.312.9 89.585TBD TBD77.245.3 (937.8)Current quarterly cash dividend of 0.23 per common shareShareholderDistributionsCash dividends on common stockCommon stock repurchases 149 million authorizationremaining as of March 31, 20168
Priorities for 2016OPERATIONAL INITIATIVES Develop coordinated care protocols Utilize ACE IT to enhance outcomes (e.g., reduce acute care transfers,enhance medication reconciliation)PatientSNFsHLSIRFAdmittedWhere feasible,patients’ postacute needs areidentified beforebeing admittedPatient is assessedfor appropriatepost-acute care bya physicianEncompass participates inteam meetings;collaborates with dischargeplan; length of staydependent on ability todischarge to homeHomeMinimize numberof discharges toSNFsHome care andfollow-upcoordinated withIRFObjectives Reduce Medicare Spending perBeneficiary (MSPB) Reduce readmissions Enhance clinical outcomes Improve patient and familysatisfaction9As of December 31, 2015,these systems have data on 200,000 IRF discharges andover 16 million home healthvisits.Use data from thesesystems to develop bestpractice clinical protocolsStratify risks and standardize "best practice" protocols
Q1 2016 HighlightsQ1 2016Q1 2015GrowthDollars Percent(In Millions)HealthSouth ConsolidatedNet operating revenues 909.8 740.6 169.222.8%Adjusted EBITDA 192.1 156.1 36.023.1%Adjusted EPS 0.61 0.51 0.1019.6%Adjusted free cash flow 129.5 79.4 50.163.1%Major takeaways: Generated strong revenue, volume, and Adjusted EBITDA growth in both segments 17% discharge growth for IRFs (same-store 2.8%) 56.1% admissions growth for home health (same-store 12.6%) Reduced debt by 55.3 million; reduced leverage ratio to 4.3x from 4.6x at YE 2015 Repurchased 314,532 shares of common stock for 11 million Expanded our portfolio: Completed 50-bed hospital in Savannah, GA Began operating 27-bed JV unit in Hot Springs, AR Opened new home health agency in Lee’s Summit, MO (Kansas City metro area) Continued the development of eight additional hospitals10
Full-Year GuidanceInitial 2016 Full-YearGuidanceNet Operating RevenuesRevised 2016 Full-YearGuidance 30million 3,550 million to 3,650 millionAdjusted EBITDA 3,580 million to 3,680 million 5million 765 million to 785 millionAdjusted Earnings per Sharefrom Continuing Operations 0.05perAttributable to HealthSouth share 2.32 to 2.4411Net Operating RevenuesAdjusted EBITDA 770 million to 790 millionAdjusted Earnings per Sharefrom Continuing OperationsAttributable to HealthSouth 2.37 to 2.49ProjectedGrowthOver 201513%to16%13%to16%5%to11%
HLS: Strong and Sustainable Business FundamentalsAttractive Healthcare Sectors Favorable demographic trends Nondiscretionary nature of many conditions treated Highly fragmented post-acute industriesIndustry Leading Position Cost-Effectiveness#1 market share in inpatient rehabilitation segment4th largest provider of Medicare-certified skilled home health servicesConsistent delivery of high-quality, cost-effective careEnhanced utilization of technology (e.g., clinical, data management,and technology-enabled business processes)Cost-Effectiveness Effective labor management Continued improvements in supply chain Operating leverage of G&A and occupancy expensesReal Estate Portfolio Portfolio of 121 IRFs 82 owned and 39 leasedFinancial Strength Strong balance sheet and liquidity, no significant near-term maturities(credit agreement matures in 2020; bonds mature in 2022 and beyond) Substantial free cash flow generationGrowth Opportunities Attractive organic growth opportunities in both segments Flexible inpatient rehabilitation de novo and acquisition strategy Home health and hospice platform with track record of growth throughacquisitions in highly fragmented industry12
May 05, 2016 · Bryan, TX : De Novo . 8. Franklin, TN . Attributable to HealthSouth . Full-Year Guidance . Net Operating Revenues . Initial 2016 Full-Year Guidance . Revised 2016 Full-Year Guidance . Net Operating Revenues . 3,580 million to 3,680 million . Adjusted EBITDA .
shareholder litigation as an "uncontrolled tax on innovation".1 We investigate the impact of shareholder litigation on corporate innovation by relying on a staggered law change that reduces a manager's exposure to shareholder litigation.2 We explicitly test two conflicting hypotheses that can be drawn from the literature.
MORGANITE CRUCIBLE (INDIA) LIMITED Registered Office : B-11, MIDC Industrial Area, Waluj - 431 136 Dist. - Aurangabad. ATTENDANCE SLIP Twenty Fifth Annual General Meeting on September 22, 2010 Regd. Folio No. / DPID / CLIENT ID Name of Shareholder; I Certify that I am a registered shareholder/proxy for the registered shareholder of the Company.
PROXY STATEMENT GENERAL INFORMATION ABOUT THE ANNUAL MEETING The Annual Meeting The 2016 Annual Meeting of Shareholders (Annual Meeting) of Xerox Corporation (Company) will be held on Friday, May 20, 2016, beginning at 9:00 a.m. at Xerox's Corporate Headquarters, 45 Glover Avenue in Norwalk, Connecticut. What is the purpose of the Annual Meeting?
4. A shareholder proposal, as set forth on pages 16 to 17 of the accompanying proxy statement, if properly presented at the meeting; and 5. Such other business as may properly be brought before the annual meeting or any adjournment(s) or postponement(s) of the annual meeting. The proxy statement more fully describes these matters.
Conduct of the Meeting . Meeting Script and Rules of Conduct. Q: Will a company need to make significant updates to its annual meeting script if it is hosting a virtual rather than an in-person annual meeting? A: Generally, no. The script for a virtual annual meeting should be largely the same as for an in-person meeting.
minority shareholder’s stock occurred on two occasions. In 1992, the corporation offered to buy the minority shares for 261,464 which included a 21 percent discount from the book value of the shares to reflect the minority shareholder’s 26 percent interest in the corporation. The minority shareholder did not
Information necessary to calculate the Section 199 domestic production activities deduction is reported on each shareholder's Schedule K-1. The deduction is claimed by the shareholder and does not affect the shareholder's stock basis [Reg. 1.199-9(c)(1)(i)]. The Section 199 deduction is cov
binding contract which regulates the actions of a holder of stock to the terms of the agreement. Under the shareholder control agreement, the physician shareholder agrees to hold and vote the stock for the benefit of the Parent. The shareholder control agreement should: 1. Recite the
