I think the company is going through a transition phase and may...

I think the company is going through a transition phase and may be in the early stages of a turnaround. There is a risk that this turnaround may never occur. The instability is due to the optimum incentive structure with doctor partners and the ability to retain doctors. After the debacle due to the huge debt , one hopes that lessons are learnt. The number of doctors are 77 and it is to be seen how many renew the contract. A good percentage of doctors have renewed their contracts from what I read which is a good sign pointing to the fact that they may be getting to an optimum incentive structure. This will allow the company to then reach a steady gross operating margin (IMO this is some time away) and this is what makes capital allocation decisions difficult for growth. Too quick growth with doctor partners falling out would put pressure on cash flows, therefore I'm happy that they are taking a cautious approach to growth.
Regarding this capital raising, from what I read it is meant for acquistions and day surgery investments which should contribute to growth.
The risk reward ration for me is favorable as my buy in price is much lower and with dividends my yield is better than a bond yield. I am happy to wait although I am mindful this can go pear shaped and growth may take a long time or may never eventuate.