Visible Growth & Margin Expansion in a Mission-Critical Niche — <5x EV/EBITDA

A Specialized Market Structure With Attractive Long-Term Growth Dynamics.

Today’s stock profile focuses on one of my largest core positions and a high-conviction idea.

Going forward, I will highlight positions I consider high-conviction as well as those that are more research-driven, or “tracker” positions, which might change.

Summary

A niche, mission-critical microcap operating at the interface between surgeons and patients, with deeply entrenched relationships and exposure to the rapid scaling of robotic-assisted surgery. What makes the opportunity compelling is the high visibility into future growth. The company is effectively linked to an exclusive supply agreement.

The case is somewhat convoluted, making it a classic info-arb for those willing to do the work, but this complexity masks a highly transparent growth profile driven by platform adoption and structural tailwinds from an aging population.