...MAZOR ROBOTICS LTD. ENTERPRISE VALUATION September, 2014 1 1. Executive Summary 2. Company Profile 1.1. Overview 1.2. Business Model 1.4. General Financial Analysis 1.5. Ownership Summary 3. Market Overview 1.1. Company Market 1.2. Competition 1.3. Robotic Surgery Systems Industry 1.4. Regulation 1.5. SWOT 4. Financial Analysis 1.1.1. Financial Statements Summary 1.1.2. Revenue 1.1.3. Operating Expenses 1.1.4. Balance Sheet 1.1.5. Finance Expenses 1.1.7. Cash 5. Enterprise Value 1.1.5. Methodology 1.1.6. General Valuation Assumptions 1.1.7. WAAC 1.1.8. Evaluation Chart 3 4 4 5 5 6 6 6 6 6 7 8 8 9 9 10 11 11 Net 12 13 13 13 14 DCF 14 2 1. Executive Summary We have been engaged to estimate the fair market value of the business enterprise known as Mazor Robotics, Ltd. (below “Business Enterprise”) as of September 30, 2014 for the purpose of learning and exploring the valuation of the subject as a part of the semester paper. This estimate of value analysis is based on the use of fair market value as the standard of value. For the point at the matter of this analysis, fair market value is defined as the expected price at which the business would change hands between a willing buyer and a willing seller1, based on its future evaluation income, neither being under a constraint to close the deal and both having full conversance of all the relevant facts. This is nearly similar to the market value basis definition as it is stated under the International Valuation Standards2...
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...HARRIS-VAN KEUREN ELIOT SHERMAN Cleveland Clinic Dr. Delos “Toby” Cosgrove, cardiothoracic surgeon and president and CEO of Cleveland Clinic, emerged from the operating room on a January afternoon in 1996 having just changed the way he, and subsequently the world, approached heart surgery. A trip to Stanford University Medical School had convinced him it was possible to operate on the valves of the heart through a three-inch incision instead of the nearly foot long incision that was standard practice before splitting the patient’s breastbone with a saw to reach the heart.1 After refining the technique in the lab, he had successfully performed the first such operation. Eight months later, Cosgrove performed two of these surgeries back-to-back, broadcasting his work live via satellite to 4,000 surgeons in 40 cities around the world. The Cleveland Clinic’s broadcasting capabilities facilitated this demonstration of the substantial benefits of his minimally invasive method of heart surgery, which reduced the risk of infection and involved less bleeding, pain, and trauma, significantly reduced the amount of time needed for recovery, and could be used in about three quarters of the heart valve surgeries performed in the United States.2 So compelling was this exhibition that within a year use of the technique had “exploded” throughout the medical community.3 Such innovation had been the lifeblood of Cleveland Clinic since its founding in 1921. Even as he continued early in 2006, a year...
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...Chapter 1 [pic] Introduction 1.1 Background Of The Report As being one of the biggest hospitals in Bangladesh, Apollo Hospitals Dhaka is at the forefront of medical technology and expertise and provides a complete range of the latest diagnostic, medical and surgical facilities for the care of its patients. The hospital is having all the characteristics of a world-class hospital with wide range of services and specialists, equipment, & technology, ambience and service quality. But the quality of a hospital service is not defined by the appearance of its facility. Rather the service quality depends more on the sincerity of the hospital and its human resources to serve the patients. In Bangladesh, the health care sector is not yet developed. A large number of people go abroad for treatment due to low quality of medical facilities in Bangladesh. And the main target market of Apollo Hospitals Dhaka is the people who want to get world class treatment inside the country with affordable cost. To ensure the proper customer satisfaction, the hospital management has to employ the right people in right place. Prior to this a detailed job Analysis is almost essential. With Job Descriptions and a sophisticated Job Evaluation system, management will be able to recruit and determine pay levels better, determine the types of training the hospital staff should go on and have a basis to appraise them. Job Descriptions furnished by business units are current and accurate...
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...18 Category 6: Process Management 23 Category 7: Results 7.1: Best Quality (Healthcare Outcomes) 27 7.2: Best Customer Service (Customer Focused Outcomes) 32 7.3: Best Financial Performance & Growth (Financial & Market Outcomes) 35 7.4: Best People and Workplace (Workforce Focused Outcomes) 38 7.5: Best 5 Bs (Process Effectiveness Outcomes) 41 7.6: Best 5 Bs (Leadership Outcomes) 45 GLOSSARY OF TERMS AND ABBREVIATIONS APP: Annual Planning Process 5Bs: AtlantiCare’s five “Bests” or performance excellence commitments – Best People and Workplace, Best Quality, Best Customer Service, Best Financial Performance, Best Growth ARMC : AtlantiCare Regional Medical Center ASC: Ambulatory Surgery Center ASPP: Annual Strategic Planning Process A AAAHC: Accreditation Association for Ambulatory Health Care AAI: AtlantiCare Administrators Incorporated AAP: Annual Action Plan B BFP: Best Financial Performance Big Dots: The system-level measurements or targets for each of the 5 Bs (performance excellence commitments). Business units (and their departments) have measurable action plans and goals that align with/support the Big Dots. ABCs: AtlantiCare’s Best Customer Service Standards– AtlantiCare’s customer service training program. BMI: Body Mass Index ABH: AtlantiCare Behavioral Health BOT: Board of Trustees ACS: American College of Surgeons BP: Blood Pressure ACR: American College of Radiology...
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...Journal Of Operations Research ISI SCIENCE A + U-Architecture And Urbanism ISI ARTS & HUMANITIES A Contrario IBSS Aaa-Arbeiten Aus Anglistik Und Amerikanistik ISI ARTS & HUMANITIES Aaohn Journal ISI SCIENCE Aaohn Journal ISI SOC SCIENCE Aapg Bulletin ISI SCIENCE Aaps Journal ISI SCIENCE Aaps Pharmscitech ISI SCIENCE Aatcc Review ISI SCIENCE Abacus: Journal Of Accounting, Finance And Business Studies IBSS Abacus-A Journal Of Accounting Finance And Business StudiesISI SOC SCIENCE Abdominal Imaging ISI SCIENCE Abhandlungen Aus Dem Mathematischen Seminar Der UniversISI SCIENCE Abstract And Applied Analysis ISI SCIENCE Abstracts Of Papers Of The American Chemical Society ISI SCIENCE Academia-Revista Latinoamericana De Administracion ISI SOC SCIENCE Academic Emergency Medicine ISI SCIENCE Academic Medicine ISI SCIENCE Academic Pediatrics ISI SCIENCE Academic Psychiatry ISI SOC SCIENCE Academic Radiology ISI SCIENCE Academy Of Management Annals ISI SOC SCIENCE Academy Of Management Journal ISI SOC SCIENCE Academy Of Management Journal IBSS Academy Of Management Learning & Education ISI SOC SCIENCE Academy Of Management Perspectives ISI SOC SCIENCE Academy Of Management Perspectives IBSS Academy Of Management Review ISI SOC SCIENCE Academy Of Management Review IBSS Academy Of Marketing Science Review IBSS Acadiensis ISI ARTS & HUMANITIES Acadiensis: Journal Of The History Of The Atlantic Region IBSS Accident Analysis And Prevention ISI SOC SCIENCE Accountability In Research-Policies And Quality...
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...Bad Bug Book Handbook of Foodborne Pathogenic Microorganisms and Natural Toxins Introduction Food safety is a complex issue that has an impact on all segments of society, from the general public to government, industry, and academia. The second edition of the Bad Bug Book, published by the Center for Food Safety and Applied Nutrition, of the Food and Drug Administration (FDA), U.S. Department of Health and Human Services, provides current information about the major known agents that cause foodborne illness. The information provided in this handbook is abbreviated and general in nature, and is intended for practical use. It is not intended to be a comprehensive scientific or clinical reference. Under the laws administered by FDA, a food is adulterated if it contains (1) a poisonous or otherwise harmful substance that is not an inherent natural constituent of the food itself, in an amount that poses a reasonable possibility of injury to health, or (2) a substance that is an inherent natural constituent of the food itself; is not the result of environmental, agricultural, industrial, or other contamination; and is present in an amount that ordinarily renders the food injurious to health. The first includes, for example, a toxin produced by a fungus that has contaminated a food, or a pathogenic bacterium or virus, if the amount present in the food may be injurious to health. An example of the second...
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...17. Disruptive Innovation by Clayton M. Christensen. How to cite in your report. A disruptive technology or disruptive innovation is an innovation that helps create a new market and value network, and eventually goes on to disrupt an existing market and value network. The term is used in business and technology literature to describe innovations that improve a product or service in ways that the market does not expect. Although the term disruptive technology is widely used, disruptive innovation seems a more appropriate term in many contexts since few technologies are intrinsically disruptive; rather, it is the business model that the technology enables that creates the disruptive impact. Chapter Table of Contents 17Disruptive Innovation 17.1 Introduction 17.2 The Disruptive Innovation Model 17.2.1 Disruption at Work: How Minimills Upended Integrated Steel Companies 17.2.2 The Role of Sustaining Innovation in Generating Growth 17.2.3 Disruption Is a Relative Term 17.2.4 A Disruptive Business Model Is a Valuable Corporate Asset 17.3 Two Types of Disruption 17.3.1 New-Market Disruptions 17.3.2 Low-End Disruptions 17.4 Shaping Ideas to Become Disruptive: Three Litmus Tests 17.4.1 Could Xerox Disrupt Hewlett-Packard? 17.4.2 Conditions for Growth in Air Conditioners 17.5 Afterword 17.6 Acknowledgements 17.7 Appendix: A Brief Description of the Disruptive Strategies of the Firms in Figure 4 17.8 Commentary by Donald A. Norman 17.8.1 The theory is easy to...
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...TENNIS RECOVERY A Comprehensive Review of the Research Editors: Mark S. Kovacs, PhD Todd S. Ellenbecker, DPT W. Ben Kibler, MD A United States Tennis Association Sport Science Committee Project Tennis Recovery: A Comprehensive Review of the Research Copyright © 2010 United States Tennis Association Inc. ISBN 978-0-692-00528-6 Editors: Mark S. Kovacs, Todd S. Ellenbecker, W. Ben Kibler TENNIS RECOVERY A Comprehensive Review of the Research A United States Tennis Association Sport Science Committee Project Editors: Mark S. Kovacs, PhD Todd S. Ellenbecker, DPT W. Ben Kibler, MD Introduction In the last two decades, physical training and competitive opportunities have increased dramatically in junior, collegiate and professional tennis. This arose due to a multitude of factors, but much of it has stemmed from an increase in knowledge and understanding of scientifically based training programs focused on improving performance. As this focus on performance has increased, the area of recovery has received relatively limited focus. Recovery is a multi-faceted paradigm focusing on recovery from training—session to session, day to day and week to week. Recovery is also vitally important during training as well as in competition between matches and between days during multi-day tournaments. As more information is needed in the area of tennis specific recovery, the Sport Science Committee of the United States Tennis Association (USTA) sponsored an extensive evidence-based...
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...Preface A well-developed knowledge of clinical microbiology is critical for the practicing physician in any medical field. Bacteria, viruses, and protozoans have no respect for the distinction between ophthalmology, pediatrics, trauma surgery, or geriatric medicine. As a physician you will be faced daily with the concepts of microbial disease and antimicrobial therapy. Microbiology is one of the few courses where much of the "minutia" is regularly used by the practicing physician. This book attempts to facilitate the learning of microbiology by presenting the information in a clear and entertaining manner brimming with memory aids. Our approach has been to: 4) Create a conceptual, organized approach to the organisms studied so the student relies less on memory and more on logical pathophysiology. The text has been updated to include current information on rapidly developing topics, such as HIV and AIDS (vaccine efforts and all the new anti-HIV medications), Ebola virus, Hantavirus, E. coli outbreaks, Mad Cow Disease, and brand-new antimicrobial antibiotics. The mnemonics and cartoons in this book do not intend disrespect for any particular patient population or racial or ethnic group but are solely presented as memory devices to assist in the learning of a complex and important medical subject. We welcome suggestions for future editions. 1) Write in a conversational style for rapid assimilation. 2) Include numerous figures serving as "visual memory tools" and summary charts...
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...SECOND 21ST CENTURY ACADEMIC FORUM CONFERENCE AT HARVARD MARCH 8 - 10, 2015 MARTIN CONFERENCE CENTER HARVARD UNIVERSITY BOSTON, MA USA Teaching, Learning, and Research in the “Just Google It” Age CONFERENCE PROCEEDING VOL. 5, NO.1 ISSN: 2330-1236 Table of Contents Authors Paper Title Page Maryam Abdu Investigating Capital Structure Decisions and Its Effect on the Nigerian Capital Market 1 Norsuhaily Abu Bakar Rahimah Embong Ibrahim Mamat Ruzilawati Abu Bakar Idris Abd. Hamid Holistically Integraded Curriculum: Implications for Personality Development 16 Sandra Ajaps Geography Education in the Google age: A Case Study of Nsukka Local Government Area of Nigeria 30 Helen Afang Andow Impact of Banking Reforms on Service Delivery in the Nigerian Banking Sector 45 Billy Batlegang Green IT Curriculum: A Mechanism For Sustainable Development 59 Rozeta Biçaku-Çekrezi Student Perception of Classroom Management and Productive Techniques in Teaching 74 Thomas J.P.Brady Developing Digital Literacy in Teachers and Students 91 Lorenzo Cherubini Ontario (Canada) Education Provincial Policy: Aboriginal Student Learning 101 Jennifer Dahmen Natascha Compes Just Google It?! But at What Price? Teaching Pro-Environmental Behaviour for Smart and Energy-Efficient Use of Information and Communication Technologies 119 Marion Engin Senem Donanci Using iPads in a dialogic classroom: Mutually exclusive or naturally compatible? 132 Nahed Ghazzoul Teaching and Learning in...
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...Essentials Ruth E. McCall, BS, MT (ASCP) Retired Program Director and Instructor Central New Mexico Community College Albuquerque, New Mexico President, NuHealth Educators, LLC Faculty, Emeritus Phoenix College Phoenix, Arizona Fifth Edition Cathee M. Tankersley, BS, MT (ASCP) Acquisitions Editor: Peter Sabatini Product Manager: Meredith L. Brittain Marketing Manager: Shauna Kelley Designer: Holly McLaughlin Production Services: Aptara, Inc. Fifth Edition Copyright © 2012, 2008 by Lippincott Williams & Wilkins, a Wolters Kluwer business. Two Commerce Square 2001 Market Street Philadelphia, PA 19103 351 West Camden Street Baltimore, MD 21201 Printed in China All rights reserved. This book is protected by copyright. No part of this book may be reproduced or transmitted in any form or by any means, including as photocopies or scanned-in or other electronic copies, or utilized by any information storage and retrieval system without written permission from the copyright owner, except for brief quotations embodied in critical articles and reviews. Materials appearing in this book prepared by individuals as part of their official duties as U.S. government employees are not covered by the above-mentioned copyright. To request permission, please contact Lippincott Williams & Wilkins at Two Commerce Square, 2001 Market Street, Philadelphia, PA 19103, via email at permissions@lww.com, or via website at lww.com (products and services). 9 8 7 6 5 4 3 2 1 Library of Congress...
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...ALSO BY JOHN GREEN Looking for Alaska An Abundance of Katherines Paper Towns Will Grayson, Will Grayson W ITH DAVID LEVITHAN DUTTON BOOKS | An imprint of Penguin Group (USA) Inc. DUTTON BOOKS A MEMBER O F PENGUIN GRO UP (USA ) INC . Published by the Penguin Group | Penguin Group (USA ) Inc., 375 Hudson Street, New York, New York 10014, U.S.A . | Penguin Group (C anada), 90 Eglinton A v enue East, Suite 700, Toronto, O ntario M4P 2Y3, C anada (a div ision of Pearson Penguin C anada Inc.) | Penguin Books Ltd, 80 Strand, London WC 2R 0RL, England | Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a div ision of Penguin Books Ltd) | Penguin Group (A ustralia), 250 C amberw ell Road, C amberw ell, V ictoria 3124, A ustralia (a div ision of Pearson A ustralia Group Pty Ltd) | Penguin Books India Pv t Ltd, 11 C ommunity C entre, Panchsheel Park, New Delhi - 110 017, India | Penguin Group (NZ), 67 A pollo Driv e, Rosedale, A uckland 0632, New Zealand (a div ision of Pearson New Zealand Ltd) | Penguin Books (South A frica) (Pty ) Ltd, 24 Sturdee A v enue, Rosebank, Johannesburg 2196, South A frica | Penguin Books Ltd, Registered O ffices: 80 Strand, London WC 2R 0RL, England This book is a w ork of fiction. Names, characters, places, and incidents are either the product of the author’s imagination or are used fictitiously , and any resemblance to actual persons, liv ing or dead, business establishments, ev ents, or locales is entirely coincidental. C opy right ©...
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...ALSO BY JOHN GREEN Looking for Alaska An Abundance of Katherines Paper Towns Will Grayson, Will Grayson W ITH DAVID LEVITHAN DUTTON BOOKS | An imprint of Penguin Group (USA) Inc. DUTTON BOOKS A MEMBER O F PENGUIN GRO UP (USA ) INC . Published by the Penguin Group | Penguin Group (USA ) Inc., 375 Hudson Street, New York, New York 10014, U.S.A . | Penguin Group (C anada), 90 Eglinton A v enue East, Suite 700, Toronto, O ntario M4P 2Y3, C anada (a div ision of Pearson Penguin C anada Inc.) | Penguin Books Ltd, 80 Strand, London WC 2R 0RL, England | Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a div ision of Penguin Books Ltd) | Penguin Group (A ustralia), 250 C amberw ell Road, C amberw ell, V ictoria 3124, A ustralia (a div ision of Pearson A ustralia Group Pty Ltd) | Penguin Books India Pv t Ltd, 11 C ommunity C entre, Panchsheel Park, New Delhi - 110 017, India | Penguin Group (NZ), 67 A pollo Driv e, Rosedale, A uckland 0632, New Zealand (a div ision of Pearson New Zealand Ltd) | Penguin Books (South A frica) (Pty ) Ltd, 24 Sturdee A v enue, Rosebank, Johannesburg 2196, South A frica | Penguin Books Ltd, Registered O ffices: 80 Strand, London WC 2R 0RL, England This book is a w ork of fiction. Names, characters, places, and incidents are either the product of the author’s imagination or are used fictitiously , and any resemblance to actual persons, liv ing or dead, business establishments, ev ents, or locales is entirely coincidental. C opy right ©...
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...___________________________ LIVING HISTORY Hillary Rodham Clinton Simon & Schuster New York • London • Toronto • Sydney • Singapore To my parents, my husband, my daughter and all the good souls around the world whose inspiration, prayers, support and love blessed my heart and sustained me in the years of living history. AUTHOR’S NOTE In 1959, I wrote my autobiography for an assignment in sixth grade. In twenty-nine pages, most half-filled with earnest scrawl, I described my parents, brothers, pets, house, hobbies, school, sports and plans for the future. Forty-two years later, I began writing another memoir, this one about the eight years I spent in the White House living history with Bill Clinton. I quickly realized that I couldn’t explain my life as First Lady without going back to the beginning―how I became the woman I was that first day I walked into the White House on January 20, 1993, to take on a new role and experiences that would test and transform me in unexpected ways. By the time I crossed the threshold of the White House, I had been shaped by my family upbringing, education, religious faith and all that I had learned before―as the daughter of a staunch conservative father and a more liberal mother, a student activist, an advocate for children, a lawyer, Bill’s wife and Chelsea’s mom. For each chapter, there were more ideas I wanted to discuss than space allowed; more people to include than could be named; more places visited than could be described...
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