In 2016, the second specialist hospital project landed and improved the layout of medical services. Hefei High-tech Cardiovascular Hospital is the second specialized hospital after investing in Luoyang Sixth Hospital. It is the only three-level cardiovascular specialist hospital in Anhui. The hospital is a private non-profit hospital. The company can pass its cardiovascular drugs and equipment. The collaborative layout of the four major segments of the service, tool business, through the supply chain management to achieve cash, and become an important part of the cardiovascular department co-construction, specialist hospitals, grass-roots hospitals, network hospital multi-level medical service system. It is expected that the company will continue to invest 3-5 hospitals each year in the future, and continue to exert its strength in the field of cardiovascular specialties.
With cardiovascular speciality as the core, we will create offline medical treatment + network hospital + ECG monitoring center. Hefei High-tech Cardiovascular Hospital was established in 2002 (with a total investment of 200 million yuan), and has the highest level of cardiovascular surgery in the province. It has abundant coronary stent implantation, coronary artery bypass grafting, and neonatal congenital heart disease surgery. Experience in valve replacement and large vessel surgery, the existing open bed is about 150. This investment not only provided Lepu with the resources of cardiovascular experts and offline diagnosis and treatment in Anhui Province, but also regarded the hospital as a regional online radiation center in Anhui Province, becoming one of the core components of Lepu Network Hospital. Better serve the grassroots cardiovascular patients; combined with eucalyptus iHolter intelligent ECG monitoring terminal technology, build ECG monitoring center and diagnostic service center, and comprehensively improve the company's medical service ecosystem.
Entering the golden period, the premium eco-platform company maintains a Buy rating. The four business segments of the company are working together, the whole industry chain of the cardiovascular field is synergistic, and the endogenous + epitaxy is developing at a high speed. It is one of the few A-shares with high-speed growth in performance, and the business model is leading the innovation of ecological and platform-oriented leading enterprises. Enter a new era of rapid development. We maintain the 2016-2018 EPS of 0.79 yuan, 1.04 yuan, 1.38 yuan, an increase of 32%, 32%, 33%, corresponding to price-earnings ratio of 44 times, 34 times, 25 times; the standard A shares of other medical equipment, consumables, The average valuation of imaging and diagnostic reagent companies is 57 times. We maintain a 60-fold valuation for 6 months in 2016. The 6-month target price is 47.4 yuan, with a 36% upside potential and maintains a Buy rating.
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