Investors are expecting below-average total shareholder returns and a decline in valuation multiples in 2014, according to BCG’s annual investors survey. This newfound caution will have a big impact on their priorities for company capital deployment.
Having outperformed the overall capital market in recent years, medical-technology companies now face sizable shifts in the health care environment that will dictate fundamental changes in their operating model.
Leaders at today’s top-performing organizations see opportunities everywhere, pursue them relentlessly, and never think that their job is done. For these leaders, there is always more commercial space to be conquered.