Intuitive Surgical (ISRG): What Three Years and a New Robot Changed A Note to Readers When we first wrote about Intuitive Surgical, the company was the unambiguous, effectively unchallenged leader of a market it had created. The investment thesis was compelling but simple: a dominant installed base, an annuity stream of instruments and service revenue, and a regulatory and switching-cost
Stryker Corporation (SYK): Engineering the Future of Healthcare 1. The Premise: A MedTech Compounder with Two Compounding Engines The medtech industry is undergoing a structural transformation unlike any in its history. Three forces are converging simultaneously: the most powerful demographic tailwind in recorded medicine — an ageing global population whose joint, cardiovascular, and neurological needs are growing faster than
Veeva Systems: The Digital Nervous System of Global Biopharma 1. The Premise: The Architect of Life Sciences Digitalization The global life sciences industry is currently navigating a period of profound structural transformation, driven by the convergence of heightened regulatory scrutiny, the explosion of clinical data volumes, and the imperative for operational efficiency in drug development. Within this landscape, Veeva