In many respects, this is a major announcement for Vision Eye.
As noted in earlier postings, Vision recently reached an inflection point; the clean up and departure of the Gold Coast crew (now done), the departure of the CEO and search for a new CEO with a growth bent (in progress), the decision time for PRY's investment (in progress) and an achievement of a strong balance sheet position milestone (now done) that allowed the resumption of acquisitions and future growth (finally, now started, albeit the new Melbourne North greenfield site is near operational as well).
Vision Eye entered a troubled and turbulent period around 2008, that it exited in all reality at the time of its second capital raising in October 2014, some 6 years later.
The resumption of acquisitions, focussed on its area of expertise and importantly which do not include goodwill payments to doctor partners, is very important for the progress of this company.
It demonstrates the company is a real player in the specialty Medicals sector, which in time will lead to a re-rating of its market multiple, in addition to underlying EBITDA growth.
The 65% interest also indicates it has learnt from past experience, where it has learnt it is far more secure to partner in facility ownership with residing doctors, rather than take on the risk of exclusive ownership.
VEI Price at posting:
76.0¢ Sentiment: Buy Disclosure: Not Held
