RE:RE:RE:RE:RE:it was about timeHi PSDFinancier,
Just one mistake in your tesis. The total adjusted operating EBITDA won't be 42%.
If you use the Anesthesia service operating expenses you will notice the expense per patient is between 223,5$ in Q1 2017, and 211,0 n Q3 2017. Im pretty sure this cost per patient is not going to reduce.
For example, I expect the following for Q1 2018:
54.000 Anesthesia procedures
370$ rev.per procedure
222$ cost per procedure
Anesthesia rev. 20M$
O'Reagan 2.9M$
Total Revenue 22.9M$
Adj.op.expense Anesthesia 12M$
Ad.op.expense product 1.13M$
Ad.op.expense corporate 1M$
TOTAL adj.op.expense 14.13M$
Adj.op. EBITDA 8.8M$ wich is 38.4% margin
Obviously this is the worst quarter due to season effect, for the the full year 2018 I expect adj.op.EBITDA margin of 40.2%.