Mar 04, 2019 / 07:15PM GMT
John Wilson Ransom - Raymond James & Associates, Inc., Research Division - MD of Equity Research & Director of Healthcare Research
Just we've covered the company for about 12 years now. The evolution has been interesting. It was a -- it was, to say, a neonatology company, in 2007, the company made a diversion into anesthesiology, and over the past 3 or 4 years from being a -- that's not exactly right, into radiology. I think more recently, it's been a little bit of a poster child for some of the payer pressures in health care. There's a significant difference between anesthesia margins paid for by managed care and anesthesia margins for under Medicare, so a 4 or 5 to 1 difference. And I think the company has reacted pretty admirably to some of the headwinds. There's 2-year cost-cut program of $120 million. I think they've rethought some of their investment decisions. And then the stocks kind of settled in at about 9x EBITDA, which is probably a more reasonable entry point. So -- and I think things will have to continue to change just given the dynamic in health care. And I'm interested in hearing
MEDNAX Inc at Raymond James Institutional Investors Conference Transcript
Feb 10, 2024
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