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General information

Sector: Health Care

The company is not available at Interactive Brokers

Advanced Health (JSE:AVL) strives to be the industry leader in the provision of day surgery services through its network of day hospitals, inspiring confidence by focusing on the delivery of high-quality, cost-effective healthcare. Day hospitals are modern healthcare facilities providing short-procedure surgical services and diagnostic procedures which need to be performed in a sterile environment on a same-day basis.

As a result of advanced surgical and anaesthetic technologies, more than 60% of all surgical interventions can be performed on a same-day basis in day hospitals. Day hospitals are modern, compact and equipped and staffed to render same-day procedures efficiently, with a strong focus on the quality of surgical outcomes at extremely competitive rates for patients and medical schemes.

All day-hospital developments are based on the company’s business model, in terms of which facilities are developed in partnership with participating medical practitioners to ensure that medical quality and technology objectives are met, with Advanced adding value by concentrating on overall management, staff and increased efficiencies through central services such as information technology and accounting services.



  • Pretty weak financial results growth rate 2.5% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (0.4%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 137.2% (LTM)
  • Share price is 25.0% higher than minimum and 75.2% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (8.2x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials

Share price, ZAR:  (0.0%)0.2500
Share price, USD: 0.013515
Common stocks: 311 040 000

Dividend Yield:  0.0%
FCF Yield LTM: 137.2%
EV / LTM EBITDA: 8.2x
Last revenue growth (y/y):  +5.5%
Last growth of EBITDA (y/y):  -0.6%
Historical revenue growth:  +7.1%
Historical growth of EBITDA:  +82.5%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
EV / LTM EBITDA mutiple calculation
Market Cap ($m): 4
Net Debt ($m): 36
EV (Enterprise Value): 40
EBITDA LTM ($m): 5
EV / LTM EBITDA: 8.2x
Price to Book: 0.30x

Revenue and EBITDA

Semi-Annual values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment ZAR per share

Multiple and potential

EV / EBITDA

Potential dynamics

More information for subscribed users:
detailed calculation of
Potential and Created Value,
website traffic data

Releases

2022-06-15
Strategic review of Advanced Health
2022-05-27
Exercise of Share Option and resulting dilution of Advanced Health’s interest in PMA
2022-04-29
Sixth addendum to Credit Facility Agreement with a Related Party
2022-03-11
Amendment to Loan Agreement with Eenhede Konsultante and directors’ participation in the PMA Capital Raise
2022-02-25
Unaudited Condensed Consolidated Interim Financial Sstatements for the six months ended 31 December 2021
2022-02-24
Trading Statement
2022-01-25
Loan Agreement with a Related Party and Fairness Opinion
2021-12-10
Withdrawal of Cautionary Regarding Presmed Australia’s Investment In Devoclea
2021-11-24
Appointment to the board
2021-11-15
Renewal of cautionary regarding Presmed Australia’s investment in DEVOCLEA
2021-11-12
RESULTS OF ANNUAL GENERAL MEETING (“AGM”) AND CHANGE TO THE BOARD OF DIRECTORS
2021-11-11
Detailed Terms Announcement regarding investment in METWEST
2021-10-15
Change Statement and notice of annual general meeting
2021-10-15
Trading statement
2021-10-04
Renewal of Cautionary regarding Presmed Australia's investment in DEVOCLEA

SENS Announcements

2023-09-26
Delay in payment of clean-out dividend
2023-09-11
Finalisation announcement
2023-08-28
Results of shareholder vote on the Clean-out Dividend and Dividend Declaration Announcement
2023-08-25
Results of scheme meeting
2023-08-16
Proposed Clean-out Dividend and circular to Shareholders
2023-07-26
Posting of Scheme Circular and salient dates and times in respect of the Scheme
2023-06-28
Firm intention announcement to make offer to acquire the issued shares of Advanced Health by scheme of arrangement
2023-06-21
Change in individual designated auditor
2023-04-25
Resignation from the Board
2023-04-03
Unaudited Condensed Consolidated Interim Financial Statements for the Six Months ended 31 December 2022
2023-03-31
Trading Statement
2023-03-28
Disposal of AVL's Entire Equity Interest of 56.44% in PMA: Results of General Meeting
2023-03-01
Appointment of Acting Chief Financial Officer
2023-02-24
Distribution of Disposal Circular and notice of General Meeting
2023-01-30
Firm intention announcement regarding the disposal of AVL’s equity interest in PMA and withdrawal of cautionary
2023-01-04
Dealings by a Director and Associate of a Director
2022-12-23
Detailed Terms and Cautionary Announcement regarding the disposal of AVL’s equity interest of 56.44% in PMA
2022-11-11
Results of Annual General Meeting ("AGM")
2022-11-10
Update to the Strategic Review of Advanced Health
2022-10-26
B-BBEE status and availability of the B-BBEE Annual Compliance
2022-10-12
No change statement and Notice of Annual General Meeting
2022-09-08
Reviewed Condensed Consolidated Annual Financial Statements for the year ended 30 June 2022
2022-09-06
Trading Statement
2022-08-25
Strategic Review of Advanced Health
2022-06-15
Strategic review of Advanced Health
2022-05-27
Exercise of Share Option and resulting dilution of Advanced Health’s interest in PMA