Yes once Paul died the culture of the company changed dramatically, the Money men were in charge, Chris Rex was at the helm and his purpose in life was to get the share price through the milestones of $50, $60, $70 and briefly $80 to hit his KPIs and receive his massive bonuses. Once he achieved this he said thanks very much, I'm off on an early retirement. Naturally to achieve this requires a slash and burn approach to your costs, which has resulted in staff dissatisfaction and staff churn, which results in an inconsistent patient experience. Then when KKR made an incredible offer to buy the company, it should have been a matter of locking up the deal so they couldn't get away, but again the handling reeked of the hierarchy looking after their highly paid positions, instead of getting the best outcome for shareholders.
RHC Price at posting:
$46.44 Sentiment: None Disclosure: Held
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