UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 17, 2012
Streamline Health Solutions, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 0-28132 | 31-1455414 | ||
| (State or other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 1230 Peachtree St. NE Atlanta, GA | 30309 | |||
| (Address of Principal Executive Offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (404) 446-0050
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01 – Regulation FD Disclosure.
Streamline Health Solutions, Inc. (the “Company”) is furnishing presentation materials to be discussed with various institutional investors in New York, NY on December 17, 2012, included as Exhibit 99.1 to this Current Report on Form 8-K. The Company undertakes no obligation to update these presentation materials in the future, except as may be required by law.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933 or the Exchange Act.
Item 9.01 – Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Streamline Health Solutions, Inc. Presentation Materials, presented on December 17, 2012 |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1934, registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Streamline Health Solutions, Inc. | ||||||
| Date: December 17, 2012 | By: | /s/ Stephen H. Murdock | ||||
| Stephen H. Murdock | ||||||
| Chief Financial Officer | ||||||
| Investor Presentation December 2012 NASDAQ: STRM |
| Disclosure Statements TRADEMARKS Product or company names referenced herein may be trademarks or registered trademarks of their respective owners. |
| Proprietary SaaS-based solutions that: capture and convert unstructured data into EMR accessible information; accelerate coding; shorten billing cycles; and deliver robust analytics to improve efficiencies across the healthcare enterprise Suite of solutions improve financial performance Company Highlights Integrates with leading EMR, financial and clinical systems 95% client retention due to subject matter expertise, deep and broad solutions that seamlessly integrated into provider business processes High client retention with deeply embedded solutions Installed base of top tier clients presents sizable opportunity SaaS model enhances recurring revenue profile - Q3 2012 recurring revenue grew 60.9% over Q3 2011; YOY recurring revenue grew 41.2% Highly scalable SaaS model Management team with extensive HCIT experience repositioned Company for growth and profitability as evidenced by double digit growth YTD Proven management team and successful turn- around Computer Assisted Coding (CAC) solution positions the Company at the forefront of the ICD-10 transition scheduled for 2014. The acquisition increases the Company's relevance in the HIM space. Meta acquisition opens new doors for Coding and CDI opportunities |
| Issues Solutions Addressing Critical Healthcare Issues Opportunities Limitations on provider financial performance Technology required to improve processes and manage costs Streamline Health solutions address critical pain points for providers |
| Enterprise Applications Patient Encounter Life Cycle Solutions Across the Enterprise AccessAnyWare Content Management Collabra Coding and CDI OpportunityAnyWare Business Analytics CharityWare ReferWare PreOpWare CompletionWar e ReleaseWare FolderView eCAC eCDI ePhysician Query eAbstract 835DenialWare AuditWare ARWare Patient Access | Clinicians | HIM | Coding | CDI | PFS | Revenue Cycle Referral Registration Admission Discharge Coding Billing & Collections CDI Reconciliation Audit HIM Business Analytics |
| TTM Oct 2012 TTM Oct 2011 78.4% Recurring revenue % total 70.3% 37.0% Recurring revenue growth 9.7% 53.5% Gross margin 42% 17.8% EBITDA margin 16.1% $48.7 Backlog ($ millions) $16.8 Performance Momentum and Demonstrated Results Strong Revenue Backlog Increasing Recurring Revenue Key Strategic Goals and Accomplishments YTD FY 2012 Key Financial Improvements Achieved |
| YTD Comparison Highlights Successful Execution 51.2% Growth 48.7% Growth Revenue ($ in millions) Adj. EBITDA ($ in millions) |
| Streamline Clients Prestigious Client Base |
| Growing Addressable Market Current Market Focus Potential New Markets Compelling Market Fundamentals Gartner and Cerner estimates |
| Company Summary NASDAQ: STRM Exchange/Ticker December 14, 2012: $5.22 (52 Week High - $6.60, Low - $1.35) Share Price (52 Week Range) 12.5 million Common Shares Outstanding December 14, 2012: $65.4 million Market Cap $10.5 million (October 31, 2012) Cash $14.0 million (October 31, 2012) Debt $21.5 million (October 31, 2012) TTM Revenue $5.6 million (October 31, 2012) TTM Adj. EBITDA 119 Number of Associates |