UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 4, 2013
Streamline Health Solutions, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
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0-28132 |
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31-1455414 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
1230 Peachtree Street, NE, Suite 1000,
Atlanta, GA 30309
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (404) 446-0050
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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 at the LD Micro Conference in Los Angeles, California on December 5, 2013, 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
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Streamline Health Solutions, Inc. Presentation Materials presented on December 5, 2013. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Streamline Health Solutions, Inc. | |
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Date: December 4, 2013 |
By: |
/s/ Jack W. Kennedy Jr. |
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Jack W. Kennedy Jr. |
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Senior Vice President & Chief Legal Counsel |
INDEX TO EXHIBITS
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Exhibit No. |
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Description of Exhibit |
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99.1 |
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Streamline Health Solutions, Inc. Presentation Materials presented on December 5, 2013. |
Exhibit 99.1
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Knowledge Management for Healthcare Providers NASDAQ: STRM Investor Presentation December 2013 |
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Disclosure Statements TRADEMARKS Product or company names referenced herein may be trademarks or registered trademarks of their respective owners. |
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Our Knowledge Management solutions aggregate unstructured and fragmented data across the clinical, financial and operational spectrum of the patient experience– delivering intelligently organized, easily accessible insights, enabling better decision-making for better results. Knowledge management solutions provider Intelligent Insight for Improved Decision-Making Integrate with leading EMR, financial and clinical systems High client retention with deeply embedded solutions Installed base of top tier clients presents sizable opportunity TTM Q2 2013 SaaS and maintenance recurring revenue comprised 77.5% of total revenue Highly scalable recurring revenue model Executive team with extensive healthcare information technology experience in both public and private equity or venture backed entities. Proven management team The increasing complexity of provider reimbursement strategies coupled with the demands of EHR implementations and a shift in coding metrics are drivers for growth. Macro market conditions driving growth 95% client retention due to subject matter expertise coupled with innovative, deep and broad solutions that integrate with the existing business process of our clients while delivering meaningful ROI. |
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Pending Acquisitions Financial and operational analytics Operates under a SaaS based model The Company currently has 35 clients, none of whom are Streamline clients today Consideration is approximately $13.75 million in cash and stock Recently announced letters of intent to purchase two companies to augment existing solutions Target #1 Target #2 |
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Process Improvement Solutions eCDI 835DenialWare AuditWare ARWare OpportunityAnyWare Financial CharityWare ReferWare PreOpWare Patient Access Scheduling EMPI ORMS CompletionWare ReleaseWare FolderView HIM AccessAnyWare eCAC ePhysician Query eAbstract Dual Coding Coding & CDI Clinical Physician Portal Analytics Clinical Population Management Spend Performance Referral Registration Admission Discharge Coding Billing & Collections CDI Reconciliation Audit HIM Patient Care Solutions Across the Patient Experience Cost Claims Tracking Enterprise Solutions A1 A2 |
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Competitive Landscape Traditionally compete on solution price, service level, agility, customizability & Industry specific Traditionally compete on solution appeal Enterprise Solutions Coding Solutions Analytics Solutions |
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Addressing Critical Healthcare Issues Electronic Medical Records Providers must show “meaningful use” by 2015 HITECH/ARRA is just the beginning of the EMR life cycle Enable access to unstructured data from within the EMR with MU certified EHR module Declining Reimbursements Increasing claim denials, slow pay, and the impact of risk contracts such as ACOs and bundled payments With decreasing profit margins, providers will rely on business analytics to help them protect revenue Accelerate coding, billing, A/R collection and increase visibility of financial KPIs with business analytics ICD-10 Transition ICD-9 to ICD-10 Conversion by October 1, 2014 Over 140,000 new codes in ICD-10 Computer Assisted Coding (CAC) solution addresses ICD-10 conversion issues Streamline Health solutions address critical pain points for providers |
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Growing Addressable Market Current Market Focus Potential New Markets Compelling Market Fundamentals |
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Case Studies |
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Current Client Base Frost and Sullivan report: U.S. Hospital Health Data Analytics Market (2012) |
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Financial Performance Through Q3 2013 Quarterly Bookings Quarterly Backlog Increasing Recurring Revenue Q3 2013 bookings plus renewals were approximately $10mm Bookings for Q3 2013 were $6.3mm, a 19% increase over Q2 2013 Total revenue for Q3 2013 was approximately $6.7mm Backlog was $55.0mm for Q3 2013, an increase of 6% over Q2 2013 Other Revenue Recurring Revenue $(MM) $(MM) $(MM) |
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Executive Team Name Title Years of Experience: Previously Streamline Industry Total Robert Watson President & Chief Executive Officer 3 23 32 DocuSys, Concuity, Cerner (NASDAQ: CERN) Nicholas Meeks Senior Vice President & Chief Financial Officer 2 6 9 Emdeon (NYSE: EM), Chamberlin Edmonds Richard Nelli Senior Vice President & Chief Technology Officer 1 22 22 Optum (NYSE: UNH), Caremedic Matthew Seefeld Senior Vice President, Solution Strategy 2 14 16 Interpoint Partners, Deloitte, PwC Michael Schiller Senior Vice President, Sales & Marketing 2 22 22 AllScripts (NASDAQ: MDRX), GE Healthcare (NYSE: GE) Herbert Larsen Senior Vice President, Client Services 1 25 26 Edifecs, Cigna (NYSE: CI), Arthur Andersen |
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Company Summary A leading provider of SaaS-based enterprise content management, business and clinical analytics, and computer assisted coding (CAC) solutions for healthcare providers. NASDAQ: STRM Exchange/Ticker November 29, 2013: $6.13 (52 Week High - $8.50, Low - $5.02) Share Price (52 Week Range) 17.4 million (inclusive of 3.45M shares per offering closed 11-27-13) Common Shares Outstanding November 29, 2013: $106.7 million Market Cap $5.4 million (July 31, 2013) Cash $13.1 million (July 31, 2013) Bank Debt $28.5 million (July 31, 2013) TTM Revenue $6.6 million (July 31, 2013) TTM Adj. EBITDA 96 Number of Associates |
