Healthcare >> Sector Roundtables >> September 20, 1999
ROBERT C. FAULKNER is a Senior Medical Device Analyst with Hambrecht &
Quist. Previously, he was associated with Warburg Dillon Read, The
Wilkerson Group and SmithKline Beecham. Mr. Faulkner earned his
Bachelor's degree from Harvard University and an M.B.A. from the Tuck
School of Business Administration at Dartmouth College. Profile
MICHAEL G. MULLEN, is an Independent Analyst and was formerly a Managing
Director with S.G. Cowen Securities and previously associated with Banc
One Asset Management. He earned his Bachelor's degree from Fordham
University and his M.B.A. from Indiana University. A Chartered Financial
Analyst, Mr. Mullen is a member of the Boston Securities Analyst Society
and a Board member of the Indiana University Investment Management
Academy. Profile
FREDERICK A. WISE, CFA, is a Managing Director at Bear, Stearns &
Co., covering the medical supplies and devices industry. Mr. Wise
is a six-year member of the Institutional Investor All America
Research Team. In 1999 he was ranked number two and in 2000 he
was ranked number three. He was named to the 2000 Wall Street
Journal All-Star Analysts Survey for earnings forecasting. He was
also ranked number four by The Reuters Survey 2000. Mr. Wise has
a unique valuation approach, and has accurately anticipated the
underperformance of stocks, as well as the performance of the
industry in recent years. Prior to joining Bear Stearns, he was
an Analyst at Kidder Peabody & Co. and Forbes, Inc. Mr. Wise
received an MA and a BA from the Manhattan School of Music. Profile
TWST: Let's start by establishing the parameters of what constitutessmall capitalization or, small to medium capitalization, medical
technology stocks. Michael?
Mr. Mullen: I have generally