Medibank Prospectus Details, page-76

the banks dont have any debt either. all debt is held OBS, as u know..financial services sector i am comparing with..not apples v oranges...all financial services companies have no debt...all debt off balance sheet.MPL's gross profit is only 2.4% per annum..u only care about the stag.i care about the long term earnings growth and whether its expensive or not

even if claims mngmt results in $40m benefit to npat, it could take many years to get there. BUPA has been private for a long time. its very slow growth by the looks because its growth entirely due to cost cutting, not top line growth.... their main expense i.e. hospitals, they wouldn't be able to cut...