Ann: Half Year Financial Report and Full Year Gui, page-12

re: Ann: Half Year Financial Report and Full ... For the record, in 2008 VGH made $37.2m EBITDA on $110m in revenues. This indicates that approximately $10m in EBITDA has been lost in additional Doctor Remuneration, given revenues are largely comparable. Further, there has been nil growth since 2007, or over the last five years.

$10m EBITDA reduction represents a loss of around +$60m in shareholder wealth.