I don't think you will find many medical companies with an equipment/ capex bias that would be much better on stock turn.
They already have a large portfolio of products ranging from ophthalmic to scanning. The areas I see them adjusting to are more along the lines of niche acquisitions , maybe a NZ operation and hopefully filling out their presence. I don't think the business has seen all the synergy yet and I expect that that plus a net return improvement can be gained by the synergies.
Their stated target is turnover around $250 million and at one point a long time ago it was a net of I think 10%. I think that there is still a lot of work and that the work over the next 18 months is to get these synergies to deliver.
I am personally happy with the progress and my investment and think they are a fairly priced stock in what is a hard to find gems market for me.
PGC Price at posting:
75.0¢ Sentiment: None Disclosure: Held
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