Natus Medical (BABY)
is a case in point as to why I'm always skeptical around growth stories
built on rampant M&A activity, particularly when those growth
stories are awarded the sort of multiples that go with the strongest
organic growth names in the med-tech space. To that end, while Natus had
a career-making run through the first decade of this century, the going
has gotten a lot tougher post-2008, during which time Natus has lagged
another famous (or infamous) growth-by-acquisition story Integra Lifesciences (IART) and other less-than-stellar performers like Medtronic (MDT).
Please read more here:
Baby, Baby, Where Has The Love Gone?
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