Day-hospital developer Advanced Health has leapt out of its sick bed. After languishing at 43c in mid-November, the Advanced share price has surged more than 85% to reach a 12-month high of 90c on the JSE. It is difficult to pinpoint the cause of this rapid recuperation with Advanced, which has day clinic operations in Australia and SA, notching up losses of about R30m in the financial year to end-June. The outlook for the financial year ahead is only moderately optimistic with directors stressing that the local operations will focus on “achieving stability in new facilities and ensuring they become profitable”. Investors were also reminded that day hospitals are long-term investments and the settling-in periods vary from facility to facility. One thing that is apparent is the unwavering optimism of founder and CEO Carl Grillenberger. Since September Grillenberger has made a determined effort to mop up low-priced shares and must be delighted at the subsequent share price recovery. T...

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