CR Medical announced it entered into subscription agreement with CMH Healthcare Investment for capital commitment of US$40mn, broadening opportunities for its M&A strategy
We maintained our FY19E/20E forecast while we cut our TP to HK$5.3 from HK$6.5 as we assigned a lower terminal growth in our IOT/sponsored hospital valuation, and newly applied 10% liquidity discount to its NAV due to recent removal from SH-HK connect list
We think the current stock price has reflected its recent weakness. Maintain NEUTRAL and await clearer catalysts ahead