The theme as I see it is combining companies that sell to...

The theme as I see it is combining companies that sell to primarily one source already into just the one entity. In engineering (where I'm more experienced) this usually involves companies like Blackwoods. The defining nature of this company is it is bureaucratic, rigid, has heavy price penalties for small volume customers, knows nothing about what it sells, and keeps no stock. They are my last choice of supplier, but the fuss involved in dealing with the many small alternatives is time consuming.

Regulatory procedures are another. It is only just worth my while to comply with the regulation surrounding companies such as QANTAS. Many small operators would find this to be the case when each customer has a different regime. I can't even imagine how hard that might be in the healthcare sector.

I also avoid if possible dealing with companies that don't have representation in my state, WA. Many of PGCs acquisition have given them on the ground presence in new states. It's hard to convey the importance of going to see something when you're going to buy it, let alone if you're going to buy a hundred. These are unique products, they're not buying books from Amazon. Additionally, the value of incorporating so many diverse products into one portfolio means just one local sales person to promote them all, and one platform to sell them all.

I think they are on the right track, but won't get taken out soon because the sort of companies that might do that already have on the ground presence across the country and similar systems in place. I'm hoping we will become one of those companies in time.