Alaris Royalty Corp. Commits to Fund Up to US$91 Million to a New Partner and Contributes US$7 Million to Accscient - Seite 2

“Alaris is thrilled to be adding what could eventually become one of our largest partners.  Body Contour Centers is the unquestioned market leader in a field that continues to grow at a high rate in the US.  Adding yet another partner with a great balance sheet and in a very desirable industry is another example of our ability to deploy capital in competitive situations.  We look forward to supporting BCC’s world class management team for years to come,” said Steve King, President and Chief Executive Officer, Alaris.

Body Contour Centers, is the largest private plastic surgery practice in the United States with over 50 locations across the country.  Operating in nearly 30 states and over 50 cities, it combines a consistent patient experience with the art of treating each patient as an individual with unique plastic surgery needs. Procedures are conducted by over 100 board-certified plastic surgeons and every surgical center is certified by AAAHC, the highest-level certification for plastic surgery.  BCC is growing rapidly, doubling its location count over the last two years.  The company celebrated its tenth year of delivering great patient outcomes in July 2018 and lives by a mission that everyone deserves to have their best body today and pursue their best life now.

“We are excited to embark on the next phase of growth via this partnership with Alaris.  Their flexible capital solution will allow our management team to pursue our vision for growth while recapitalizing our balance sheet in a prudent way.  We look forward to a long and successful relationship with Alaris,” Chris M. Par, Chief Executive Officer, Body Contour Centers, LLC.

Based on Alaris' review of BCC’s internal pro forma results for the most recent trailing twelve month period in 2018, management of Alaris believes that BCC would have an earnings coverage ratio in a range of 1.2x to 1.5x, after giving effect to the BCC Contribution, other changes to BCC’s capital structure and the BCC Distribution payable to Alaris.

Accscient Follow-On
In exchange for the Accscient Contribution announced today, Alaris is entitled to an additional US$1,001,000 of distributions from Accscient.  Alaris now has US$30,000,000 invested in Accscient and is collecting run rate distributions of US$4,430,000.  Accscient’s cumulative distribution accounts for approximately 6% of Alaris’ total revenue. Proceeds of the Accscient Contribution were used by Accscient to acquire a business complimentary to their current operations.