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Research & Markets
Recent Publications
Primary Health Care (PRY) - Wait For The B-Sample
Headline valuation metrics starting to look cheap but still >20x free cash flow adjusted for GP acquisition spend.
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Primary Health Care (PRY) /Sonic Healthcare (SHL) - FY12 Relief But M&A Imperative Remains
Agreed cap & floor on growth in Medicare pathology outlays to FY16 provides funding but not margin certainty, especially beyond FY12.
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Primary Health Care (PRY) - Long Convalescence
We stay at Neutral – above $3.
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Primary Health Care (PRY) - Shape Up Or Ship Out?
Downgrade to FY11 guidance largely anticipated.
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Primary Health Care (PRY)/Sonic Healthcare (SHL) - Down & Dirty For Now, But FY12 Consolidation Play To Get Interesting
Domestic pathology market remains depressed.
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