RE:RE:RE:RE:The acquisition - thoughts?Torontojay, this is a good question - how much of their present financials is a tailwind from Covid?
If we just consider the three previous acquisitions:
Code Bleu was acquired in 2020, but their 2019 pre-Covid metrics in the news release at the time had $3.9 million in EBITDA.
Solutions Nursing had EBITDA of $0.6 million - lets say 50% Covid related, so $0.3 million EBITDA.
So adding these with the non-Covid EBITDA of the current acquisition gets me $7.6 million.
This isn't even considering any of the other existing business, non-ambulatory medical transport services, or any growth with signed contracts over this time as I don't have any concrete numbers for those easily at hand.
So even if we give everything a 50% haircut assuming zero Covid related revenues going forward, and absolutely no contribution from other aspects of the business, I still get a fair value of $1.00+ .
Anyway, just my two cents trying to quantify a bearish case.