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Sector: Medical technology



The almost halving of the share price over the past nine months of this medical supply business gave us an opportunity to look at the company. Healthcare services are close to essential, have a high level of government funding, with long-term growth supported by an increasing and aging population. The company is in the early stages of a turnaround and we are looking at whether management can deliver on its own high expectations.


Paragon’s 1H19 result was disappointing as costs from a spate of acquisitions were greater than expected, leading to a loss. Although revenues more than doubled to $130m the business made EBITDA of only $9.5m, leading to a loss after tax of $4.2m, down $7m on a year ago. A silver lining of sorts was the continuing business (excluding businesses for sale), which achieved 9% organic revenue growth and the gross margin was stable at 38% ($119m revenue and $14m EBITDA). The interim dividend was held at 1.1 cents.

**FY19 Forecast

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  • Radar Rating Unlock
  • Market Cap ($m)* 87.8
  • Dividend Yield (%)* 6.5
  • NET DEBT ($M) 76
  • * Data as of 30 July 2021

Latest Research Summary

24 Jun, 2021

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Previous Research

Research Date Radar Rating  
PARAGON CARE: RESEARCH TIP UPDATE - JUNE 2021 24 Jun, 2021 2c11e9a4 View Research
PARAGON CARE: RESEARCH TIP UPDATE - MAY 2021 27 May, 2021 f4f1d991 View Research
PARAGON CARE: RESEARCH TIP - MAY 2019 01 May, 2019 dbd7c689 View Research