Lifehealthcare Group Ltd (ASX: LHC) is a distributor of medical devices in Australia and New Zealand. The stock trades on an unfranked dividend yield of 6.6%.

Shares in Lifehealthcare are down 34.5% over the past six months after the market seemingly overreacted to its half yearly accounts. Whilst the company delivered a solid 12.3% increase in revenue to $54.4 million, operating earnings before interest, tax, depreciation and amortisation (EBITDA) were flat compared to the previous year at $8.5 million.

Perhaps a more likely explanation for the sell off is related to the recent Private Health Insurance (PHI) review which is designed to tackle rising health insurance premiums. In particular, an Industry Working Group has been established which could lead to lower private sector prices for prosthetics. Such products currently make up approximately 35% of Lifehealthcare’s revenue.

A 34.5% fall in Lifehealthcare’s share price appears to more than compensate for this risk given the worst outcome is likely to be a small reduction in average profit margins for the group. Furthermore, underlying demographic trends remain favourable for the healthcare industry and should benefit the company over the long term.

Asian Pacific Data Centre Group (ASX: AJD) owns three data centres in Sydney, Melbourne and Perth that it leases to Nextdc Ltd (ASX: NXT). The stock pays an unfranked dividend yield of 6.1% based on the latest quarterly distribution.

Asian Pacific recently had its assets revalued to $187 million representing an increase of 12.4% over the year to 30 June 2016.  Consequently, net tangible assets per security increased to $1.43 from $1.25 as at 31 December 2015 versus today’s stock price of $1.60.

Asian Pacific is looking to expand its portfolio of data centres and had $18 million of net debt at 31 December 2015, just 9.6% of the value of its properties. Existing leases expire in 2027 and 2028, with options for a further 25 years and are subject to annual CPI increases and five-yearly market reviews.

Asian Pacific could offer a low risk path for investors looking to gain exposure to the rapidly growing cloud industry. The group is well protected from an economic downturn due to its long leases and the high cost of switching locations for its tenants. However, it currently relies on a single client for all of its income and so it might be wise to wait until Asian Pacific has secured more customers before jumping in.

FSA Group Ltd (ASX: FSA) provides debt solutions and secured lending services to consumers. The stock currently trades on a fully franked dividend yield of 6.5%.

FSA is the largest provider of debt agreements in Australia. It originated 48% of all agreements in 2015 and was responsible for 61% of paid out agreements in 2014 demonstrating that it delivers better than average returns to creditors.

The debt solutions business dovetails nicely with the consumer lending division which specialises in subprime loans for customers looking to consolidate their debts. All loans are secured against either property or motor vehicles and the underlying funding is mainly provided by Westpac.

As at the 31 December 2015 arrears were just 2.67% of outstanding home loans and nothing for personal loans. An economic slump would almost certainly cause arrears to rise but so would demand for FSA’s debt solutions and so the company looks fairly recession proof.

If you feel more comfortable investing in larger companies but are still after consistent dividend income, then I would recommend this top dividend share instead. A strong yield and potential share price gains make this a great investment idea in my opinion.

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Motley Fool contributor Matt Brazier has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.