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DewDiligence

04/24/12 10:47 PM

#140751 RE: dav1234 #140746

PKI, TMO, and WAT compete to some degree; however, PKI derives about half of its sales from non-healthcare businesses. PKI is a probably stronger beneficiary of The Global Demographic Tailwind than the other two companies, IMO. Moreover, with an enterprise value about half of WAT’s and one-seventh of TMO’s, PKI has considerably more buyout vig than the others.