Roughly I'd use say 10 x $25m ebitda, less net debt at 30 June, add $10m from cap raising, divide by 30 June shares on issue, (+) adjusted for new 10% issue. The key to all this is the impact on core earnings, arising from diversification away from doctor partner personal exertion income, enabled by the new acquisitions in motion; effectively will it put a floor under margin erosion from ongoing higher doctor pay, where consequently over time, more comfort on multiple comparable for sector.
VEI Price at posting:
65.5¢ Sentiment: Buy Disclosure: Not Held
