oversold, page-95

as a long term shareholder of RMD my observation relates to its recent SAAS investments. before those it had a small debt level of circa 250m. it now has a debt level of circa 1.5b. this debt was borrowed to fund the SAAS business which dont appear adding accretive profit. EPS reflects this. shareholders now own a company with gross assets of over 3b whereas before they owned a company with gross assets of 2b .. with roughly the same earnings. effectively shareholders own a company that is 1/3 software company. before that it was no 1 or 2 (v philips) in the sleep apnea business with an enviable track record. it seems the business model has expanded from its core, paid a lot to do so and shareholders will be hoping this strategy works out. risk profile appears to have stepped up imo. i also cant find any announcements about these mayor decisions. this may be due US disclosure rules being different but thats not helpful. interested in others thoughts.