The doctors leaving are easily replaced by overseas trained opthalmologists on 457 visas bonded to vision group as an immigration scam. Vision Group is a preferred 457 visa factory. Vision group has a good brand. Medicare payments are guaranteed. People get sick.
Few ophthalmologists do refractive surgery. No refractive surgeons have left. Some prima donna cataract jockeys have. They are easily replaced. It won't cost the company too much to maintain a 5 cent dividend and if their books and cashflow are in order and they hold their nerve the share price could easily triple.
What they have lost is the directors and board memebers who used to be able to roadshow the instos and they all have taken a bath. I gather the present board doesn't give a flying ..... about either the share price or instos.
Remember, it takes a million dollars to set up a standard eye practice and two if you want to do refractive surgery and then you have to build up the goodwill and work 7 day weeks.
VGH Price at posting:
14.5¢ Sentiment: LT Buy Disclosure: Not Held
