Agiliti Completes the Acquisition of Sizewise

Rhea-AI Summary

Agiliti, Inc. has completed its acquisition of Sizewise Rentals, a manufacturer of specialized hospital equipment. The deal, financed using cash on hand and a $150M Term Loan B, aims to enhance Agiliti's service offerings in the healthcare sector. The company intends to provide updated financial guidance, including Sizewise's expected contribution, during its quarterly results announcement for the period ending September 30, 2021. This strategic acquisition is expected to bolster Agiliti's ability to serve healthcare providers across the U.S.

Positive

• Acquisition of Sizewise Rentals expected to enhance product offerings.
• Transaction financed with $150M Term Loan B, improving liquidity.

Negative

• Integration challenges could affect expected benefits from the acquisition.
• Costs to integrate Sizewise may impact future financial performance.

MINNEAPOLIS--(BUSINESS WIRE)-- Agiliti, Inc. (NYSE: AGTI) (“Agiliti” or “the Company”), an essential service provider to the U.S. healthcare industry, today announced that it has completed the previously announced acquisition of Sizewise Rentals, LLC, (“Sizewise”), a manufacturer and distributor of specialty hospital beds, surfaces and patient handling equipment.

The transaction was financed with a combination of cash on hand as well as an incremental $150M Term Loan B (fungible with the existing 0% LIBOR floor tranche). JPMorgan Chase Bank, N.A., served as lead left bookrunner in respect to the financing.

Agiliti will provide an update to its full year 2021 financial guidance, including anticipated contribution from Sizewise, at the time it reports quarterly results for the period ending September 30, 2021.

About Agiliti, Inc.

Agiliti, Inc., is an essential service provider to the U.S. healthcare industry with solutions that help support a more efficient, safe and sustainable healthcare delivery system. Agiliti serves more than 7,000 national, regional and local acute care and alternate site providers across the U.S. For more than eight decades, Agiliti has delivered medical equipment management and service solutions that help healthcare providers reduce costs, increase operating efficiencies and support optimal patient outcomes. More information is available at www.agilitihealth.com.

Note Regarding Forward Looking Statements

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this Press Release, including statements regarding the expected timing for completion and benefits of the transaction are forward-looking statements. These forward-looking statements are subject to a number of factors and uncertainties that could cause our actual results to differ materially from those expressed in or contemplated by the forward-looking statements, including the ability of the Company to integrate the business of Sizewise successfully and achieve anticipated benefits from the acquisition; uncertainty regarding costs to integrate the company; and the effects of the acquisition on the Company’s future financial condition, results of operations, strategy and plans. Other important factors are discussed in detail in the company’s filings with the Securities and Exchange Commission, including in Part II, Item 1A. “Risk Factors” included in our Prospectus dated April 22, 2021 filed in connection with our initial public offering and our subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements included in this Press Release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211004005307/en/

Kate Kaiser

Agiliti, Corporate Communication and Investor Relations

kate.kaiser@agilitihealth.com

Source: Agiliti, Inc.

FAQ

What is the purpose of Agiliti's acquisition of Sizewise Rentals?

The acquisition aims to enhance Agiliti's service offerings in the healthcare sector.

How was the acquisition of Sizewise Rentals financed?

The acquisition was financed with cash on hand and a $150M Term Loan B.

When will Agiliti update its financial guidance after acquiring Sizewise?

Agiliti will update its financial guidance during its quarterly results announcement for the period ending September 30, 2021.

What impact is the acquisition of Sizewise expected to have on Agiliti's financial performance?

The acquisition is anticipated to positively contribute to Agiliti's revenue but may also present integration challenges.