A mid size health insurance company and it's all about cost containment. Premiums should be growing faster than costs. Have been able to react when costs have been rising. Trades around 14 X's and growing about the same pace. Had pulled back recently due to an acquisition they had done.
Likes the basic play in this space in the US right now. Provides some good upside. A lot of companies making medical products, health care service, etc. are in strong demand and are performing rather well.
(Market Call Minute.) Leading provider of health plans in the US. Sells health plans to commercial enterprise and also at the state level. Very stable business. Added about 100,000 new subscribers last year. Extremely high cash generation. Healthcare space has been the best island of safety in this correction.
(Market Call Minute.) All that's left is the book value. The business is kind of in a wind down phase. All that's left are the assets, which may take a long time to come out because of lawsuits.
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