Smith & Nephew Climbs the Value Chain Under New Management
While we continue to think Smith & Nephew faces key challenges in remaining an independent, mid-sized company in a medical technology world that has come to reward consolidation and scale, we like the steps new CEO Namal Nawana has taken to broaden the firm’s product portfolio into adjacent and complimentary markets. These additions do not necessarily widen Smith & Nephew’s narrow economic moat, but they help to reinforce the firm’s competitive position in advanced wound care, in our opi...
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