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INVESTORS BRIEF PROSPECT MEDICAL HOLDINGS (AMEX: PZZ)
Prospect Medical Holdings (AMEX: PZZ) manages the medical care of individuals enrolled in HMO plans in southern California.
Investment Rationale:
Regional Industry Leader - Prospect owned 11 IPAs at December 31, 2005, comprised of approximately 9,000 primary care and specialist physicians serving approximately 184,400 HMO members.
Dense, Fragmented Market - Approximately 47% of California’s 36 million residents are enrolled in an HMO, the highest percentage in the nation.
Strong, Predictable Cash Flow - Prospect’s primary source of cash is derived from capitation payments.
