Some more data.
Kerecis was acquired in mid 2023 for $USD1.3 million, so around $AUD2 billion.
Revenue seems to have been around $AUD150 million in FY23, having grown 50% that year. For next 3 years, CAGR is seen as 30%. US sales were around 98%.
EBIT margin was 10% in FY23, though new owner, the Danish Coloplast group, sees EBIT expanding to around 30% after 4 or more years.
So, here is the question.
If a major had $AUD2 billion to deploy in Advanced Wound Care, it could maybe buy Kerecis, or offer us a 45% premium to take-over Polynovo (@$2.90 ish).
We are maybe a year and a half behind in revenue and EBIT, but arguably now growing at a higher rate. We are maybe 2 years behind on commercialising a broader product mix, but we have a more internationally diversified business already.
I am not a seller, but if I was running a major, I think I would prefer PNV!
Some more data.Kerecis was acquired in mid 2023 for $USD1.3...
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Last
$2.05 |
Change
-0.040(1.91%) |
Mkt cap ! $1.414B | |||
| Open | High | Low | Value | Volume |
| $2.10 | $2.14 | $2.04 | $1.879M | 908.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4378 | $2.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.06 | 3000 | 1 |
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| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
$2.06 |
Change
-0.040 ( 1.57 %) |
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| Open | High | Low | Volume | ||
| $2.11 | $2.14 | $2.04 | 350187 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| PNV (ASX) Chart |