U.S. Healthcare Undervalued over 20% based on DCF

Abbott Laboratories

Market Cap: US$175.4b

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide.

HCA Healthcare

Market Cap: US$111.2b

Through its subsidiaries, provides health care services in the United States.

McKesson

Market Cap: US$105.9b

Provides healthcare services in the United States and internationally.

Boston Scientific

Market Cap: US$93.9b

Develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide.

Cencora

Market Cap: US$62.1b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Becton Dickinson

Market Cap: US$44.3b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

GE HealthCare Technologies

Market Cap: US$33.7b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Veeva Systems

Market Cap: US$25.9b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Quest Diagnostics

Market Cap: US$21.4b

Provides diagnostic testing and services in the United States.

Zimmer Biomet Holdings

Market Cap: US$18.5b

Operates as a medical technology company worldwide.

Insulet

Market Cap: US$13.7b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Encompass Health

Market Cap: US$10.7b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Baxter International

Market Cap: US$9.1b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

Teleflex

Market Cap: US$5.4b

Designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally.

Chemed

Market Cap: US$5.3b

Provides hospice and palliative care services to patients through a network of physicians, doctors, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States.

Lantheus Holdings

Market Cap: US$5.3b

Develops, manufactures, and commercializes diagnostic and therapeutic products that assist clinicians in diagnosis and treatment of heart, cancer, and other diseases worldwide.

Waystar Holding

Market Cap: US$4.2b

Develops a cloud-based software solution for healthcare payments.

iRhythm Holdings

Market Cap: US$3.9b

A digital healthcare company, engages in the design, development, and commercialization of device-based technology that provides ambulatory cardiac monitoring services to diagnose arrhythmias in the United States.

TransMedics Group

Market Cap: US$3.9b

A commercial-stage medical technology company, engages in transforming organ transplant therapy for end-stage organ failure patients in the United States and internationally.

BillionToOne

Market Cap: US$3.6b

A precision diagnostics company, quantifies biology to create molecular diagnostics.

LivaNova

Market Cap: US$3.5b

A medical technology company, designs, develops, manufactures, markets, and sells products, therapies, and services in the United States, the United Kingdom, Germany, France, Italy, the Netherlands, Spain, Belgium, Poland, Sweden, Switzerland, Austria, Norway, Portugal, Finland, Denmark, and internationally.

Brookdale Senior Living

Market Cap: US$3.2b

Owns, manages, and operates senior living communities in the United States.

ICU Medical

Market Cap: US$3.2b

Develops, manufactures, and sells medical products used in infusion therapy, vascular access, and vital care applications worldwide.

Integer Holdings

Market Cap: US$3.0b

Operates as a medical device contract development and manufacturing company in the United States, Costa Rica, Puerto Rico, Ireland, and internationally.

Privia Health Group

Market Cap: US$2.9b

Operates as a national physician-enablement company in the United States.

CorVel

Market Cap: US$2.8b

Provides workers’ compensation, general and auto liability, and hospital bill auditing and payment integrity solutions.

Haemonetics

Market Cap: US$2.8b

A medical technology company, provides a suite of hospital technologies solutions in the United States and internationally.

UFP Technologies

Market Cap: US$1.6b

Designs and manufactures solutions for medical devices, sterile packaging, and other engineered custom products in the United States.

Enovis

Market Cap: US$1.4b

A medical technology company, focuses on developing clinically differentiated solutions in the United States and internationally.

InMode

Market Cap: US$886.4m

Designs, develops, manufactures, and markets minimally invasive aesthetic medical products based on its proprietary radio frequency assisted lipolysis and deep subdermal fractional radiofrequency technologies in the United States, Europe, Asia, and internationally.

Integra LifeSciences Holdings

Market Cap: US$798.1m

Manufactures and sells surgical instruments, neurosurgical, ear, nose, throat, and wound care products for use in neurosurgery, neurocritical care, and otolaryngology.

Omada Health

Market Cap: US$714.2m

Together with its subsidiary, Physera, Inc., provides a range of virtual care programs in the United States.

HealthStream

Market Cap: US$598.0m

Provides Software-as-a-Service (SaaS) based applications for healthcare organizations in the United States.

Tactile Systems Technology

Market Cap: US$551.5m

A medical technology company, develops and provides medical devices to treat underserved chronic diseases in the United States.

Varex Imaging

Market Cap: US$478.7m

Designs, manufactures, and sells X-ray imaging components.

Simulations Plus

Market Cap: US$261.7m

Develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide.