Time will tell @travelightor. I fully agree that there are risks here, and that the longer term blue sky may well not eventuate, but I suspect the medium term future will be driven by more cyclical factors afflicting regional Queensland.
PS: For what it's worth, I've never used the same dentist more than 3 times consecutively in my entire life!
PPS: Ultimately, I still think the notion that all dentists have to be businessmen as well as dentists, is a historical hangover, and one that will continue to shift. That said, I acknowledge that, in my experience, investing on the basis that the future will be different from the past, tends to be fraught with difficulty. Not only is there the risk of the theme not playing out, but even if it does, it often (if not almost always) takes much longer than had been anticipated [#]. So, what price to pay for that theme, is a worthy discussion. Whether or not ONT is the right vehicle to leverage that theme, is also a worthy discussion.
[#]: Of course, the risks are much reduced when the "vehicle" is already profitable, and has been for many years.
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