Ann: Acquisition Adelaide CBD , page-8

Kinggee wrote:
"At the current value, with 1300 owning 24 dental practices, the average value of each practice based on the share price is approx 6.5 million dollars? This is not for any real estate it is just the Dental practice in rented premises"

Seems like some of the value can be ascribed to the earnings , they made a little over $6M after tax for FY13 slightly up on last year so a PE of around 25 but considering the removal of the chronic disease scheme seams like a very good result.
And their in house dental contract program seems where patients pay a set monthly fee seems like a savy insurance scheme without the middle man and makes this back to being a growth stock so possibly justifying the high PE.