I agree that PGC won't shoot the lights out into the future. I...

I agree that PGC won't shoot the lights out into the future. I don't see this as the same company that was there in 2014. What I do see it as is the company is just part of the consolidation process that is needed in this healthcare space. Australia is a relatively small market so direct entry of the principle is less likely. Mexico city probably has a similar population to Australia as does the greater New York area. So this industry has many small players - all you need is a tivket to somewhere and then lookup a list of companies and I am sure you can represent some me too company out there. The real problem is that even the most basic products have more and more technology involved within it. I you have some time and want to be amzed research baby nappies and what goes into these products and the hoops you have to jump.

So this technological advance means that the companies selling these products into a healthcare environment. What the industry now needs is consolidation. If you research USA hospitals you will find out that you cannot just get an interview with the buying department and in fact many companies have an agent appointed purely because that agent has access. These hospital groups have realised that back office admin is a huge cost so it you can have fewer suppliers and have fewer access points you save a lot of cost and it's cost that adds no value to the customer. Time is too costly in wage rates here. So consolidation is necessary and with funding pressures the least cost provider wins. So as a country we have to get better bang for our buck. That means Paragon is just part of the process. This has to happen and will happen.

What that means for our investment is that hopefully the next ride up is a smaller bit from acquisitions but a larger bit when we can get a upgrade to a fair value for what should be a more stable and sedate business. So the next up ride for me is ASX300 and stable outlook and dividends. It then falls off my growth to just another investment.

You have done well in the small area just as a laugh I don't see any losses we all forget the losses, the wins are more sweet. Well I have lost a fair amount on AHZ. Love the products but exactly the problems I outline above exist - the cost to get the product to the customer has just cost too much.

I should also state that whilst I see the need for a transition in management I also see the uncertainty it creates.