If ROHI is a momentum play, I fail to see any MO, today.
I asked about GTIV because they faced similar pressure on CMS medicare reimbursement reductions and declared a triggering event which precipitated a $600M write off in 2011. I asked about KADR because they, too, were untenably over-capitalized (like ROHI) and had a day or reckoning, first with their auditors and then with their noteholders. By the way, Arcadia did not cease operations, they continue under privately held Arcadia Healthcare which former shareholders enjoy no stake in. The old corporate shell remains with no functioning businesses, but its shares even continue to trade to some small extent. Millions of Arcadia shares traded for weeks or months after their final 8-K which stated their common shares had no value. Today those shares trade at an average of $.0001.
Freedon Healthcare's BK was a kaliedoscopic future view into the entitlement-funded home healthcare sector, IMO, and I see a lot more, similar activity, just around the corner. What interests me is that the home care strategy, over time, actually makes tremendous sense and offers massive cost savings and lifestyle benefits, compared to nursing home care and its onerous and excessive cost structure. However, these businesses need some good, old-fashioned cost/SGA management discipline or they will never deliver to patients or investors.
I have NO investment skin in this game, but I have huge interest in the future opportunities, here. Someone is going to make a killing in some of these businesses and that AAPL-type opportunity is worth my interest and the considerable DD I perform to try and identify the eventual winners.
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