The minnow flounders
The Advanced Health rights issue was, quite frankly, a flop with less than 62% of shares being taken up by investors. This leaves it with a serious problem as it has a shortfall of cash and will therefore be unable to carry out its plans. This company listed with some promise, but day hospitals are not taking off in South Africa although it’s performing decently enough in Australia. Locally it has to compete against the large established hospital groups that are not going to give up patients without a real fight. So far, it is a fight that Advanced Health is losing.