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GreeneStone Healthcare Corp. (GRST) Has Specific Road to Growth

It’s not unusual for companies to talk about growth, pointing to new technologies and market potential. But potential is a nebulous term, often backed up only by a reference to the total number of estimated customers in a given market or the total annual sales value of a given market. The road to get to those customers and to reach that market potential is not usually specified in any detail.

GreeneStone Healthcare is an exception to the rule. The company currently runs clinics providing healthcare services in the Canadian province of Ontario, focused on executive healthcare programs and addiction disorders. GreeneStones has researched and laid out in detail both their target market, and their specific planned and very impressive growth targets, and how they will get there, based upon what they see as a huge and underserved need.

Backed up by statistics in various regional and national reports, GreeneStone is going after the addiction and mental health market, which has been largely unaddressed, especially in Canada where the public health system is becoming financially squeezed. They cite Ontario’s public healthcare cost which has increased at a compounded rate of 7.1% over the past 10 years, with relatively little spent on addictions, eating disorders, and other growing mental health issues. They point to quantitative reports estimating that the ultimate cost to society of such mental health and addiction issues is actually 50% greater than all forms of cancer combined. Clinical depression, for example, can result in reduced functioning that far exceeds all the major cancers, and alcohol abuse is responsible for more deaths than some cancers and infectious diseases.

GreeneStone already has successful mental health and other clinics in place, and has a well-defined growth path allowing it to fill that serious gap. GreeneStone currently generates approximately $600 to $1000 per day per bed in a sector that has produced valuations for facilities well in excess of that. The company’s plans, using a build-and-buy strategy, call for a ten-fold growth in facility capacity (beds), leading to an increase in revenue from $7 million to nearly $90 million. They’ve already identified several acquisition targets in the U.S. and Canada which are either underperforming or could be expanded, plus they will be building/converting to create new facilities.

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