Fortnightly Publication Highlighting Latest Insights From IRF Providers
Company Research
US Healthcare + Merger / Arb Catalysts: What’s next from DC
Healthcare
2026 is shaping up to be an active year for US healthcare policy, with President Trump's focus on affordability impacting Congressional and Administration priorities. Near term, Congress is considering spending legislation impacting clinical labs (Quest Diagnostics, Labcorp), diagnostics (Natera) and life science tools (Danaher, Thermo Fisher). Investors are also awaiting clarity on MFN deals and their impact on companies that have not yet signed agreements with the Administration. Beyond HC, Aldis also leverages their connectivity to provide timely insights and updates around M&A with regulatory catalysts, including Nexstar-Tegna and Union Pacific-Norfolk Southern. Contact us below for further information on events hosted by Aldis and access to their content library.
Edition: 228
- 23 January, 2026
Healthcare
Paragon interviewed 7 former senior executives at ATS who worked with BAX's new CEO, Andrew Hider, for more than 36 years combined. Feedback was universally positive. Hider is a disciplined, process-driven leader who blends Danaher-style operational rigour with strong communication and an ability to scale businesses via organic growth and M&A. At ATS, he drove cultural transformation via the ATS Business Model, delivering margin expansion and shareholder returns, though his intense stretch targets and competitive nature created a high-pressure environment that could limit collaboration and agility. His success at BAX will hinge on whether he can balance his relentless operational focus with greater strategic flexibility and adaptability to the slower-moving, more regulated dynamics of the pharmaceutical industry.
Edition: 218
- 22 August, 2025
Industrials
The unassuming ESG powerhouse that will likely double - spun off from Danaher in Oct 23, VLTO is a global leader in essential technologies dedicated to safeguarding the world's vital resources. With c.55% of its income coming from recurring sources and its favourable margins, the business is in a strong position to capitalise on its leadership in sectors with high growth potential in a very unstructured industry. A promising candidate for long-term growth and a potential future separation (spinoff) of its 2 divisions could see the stock price double within the next 2 years.
Edition: 181
- 08 March, 2024
Healthcare
One of eight global companies in October performing a Spinoff, splitting into two listed entities. Spearheaded by the Rales brothers who have a history of wealth creation, DHR will Spinoff Veralto (VLTO), a pure-play water infrastructure company, on October 2. This will be DHR’s sixth carve-out and its third Spinoff. For insights and opportunities, reach out to the Edge Group ahead of the break-up!
Edition: 168
- 01 September, 2023
Health Care
The pandemic brought unsustainable sales in Danaher’s Life Sciences and Diagnostics segments. With weak organic growth, masked by a string of acquisitions, analysts’ estimates are too high. The stock is trading at rarely seen premia over an expensive comp group. Expect Danaher to show slower growth and lower margins leading to a rerating and a cut in multiples.
Edition: 121
- 15 October, 2021