PHG have just announced the acquisition of three more private...

PHG have just announced the acquisition of three more private hospitals and a home care business.

Total price $20.2 million (including freehold on one hospital)
Funded:
Debt $10 million
Placement $10.5 million (75 million @ 14 cents)

After dilution for options I value shares at $0.24 on P/E of 12:1. That should value options at $0.10 considering rollover available to optionholders if their current holdings expire at 31 December 2007.

They have also foreshadowed acquisition of 4 more private hospitals and a hospital group in 2008 noting that due diligence is underway. My guess is that that will occur before 30 June 2008, the new exercise date for the rollover option.