First Physicians Capital Group, Inc. (FPCG)

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According to estimates of the TIGroup approximately 5,000 ASCs are operational in US with EBITDA margin for each of the close to $1.5 million. This leads to an estimated free cash flow approximately $7.5 billion per year. The initial investment costs are high but the costs can be stabilized with higher volume of business. A well managed centre should be able to generate 30 percent operating margins.