Exploring Critical Business and Legal Issues across the Healthcare and Life Sciences Industries
Exploring Critical Business and Legal Issues across the Healthcare and Life Sciences Industries
Health Private Equity
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HPE New York 2021: The Need for Speed


In today’s supercharged private equity market, being a buyer is a tricky position. It’s tough to win deals and even more challenging to get them signed and closed on sellers’ extremely tight deadlines. Krist Werling, partner and co-head of the Private Equity Practice Group at McDermott, was joined by industry leaders to discuss these issues and the dynamics facing those on the buy side of healthcare private equity. The panel included:

  • Paige Daly, Partner, Harvest Partners
  • Sean Dempsey, Partner, Sheridan Capital Partners
  • Carmine Petrone, Managing Director, Advent International
  • Neel Varshney, MD, Founding Partner, Patient Square Capital

Access the full takeaways here.
Watch the session recording here.

HPE New York 2021: Big Bankers Breakfast


The second year of the Biden administration and the potential ending of a world-shifting pandemic will surely shape the 2022 healthcare investing market. To gain insight on the year ahead, Curtis Lane, founder of WindRose Health Investors, hosted a panel with some of the leading voices in investment banking. Panelists joining Lane included:

  • Fritz Buerger, Managing Director, Healthcare, Healthcare Services, William Blair
  • Richard Harding, Managing Director and Head of the US Private Equity Solutions Group, Moelis & Company
  • Philip Pucciarelli, Partner, Perella Weinberg Partners
  • Geoffrey Smith, Managing Director and Co-Head of the Healthcare & Life Sciences Group, Harris Williams

Access the full takeaways here.
Watch the session recording here.

HPE New York 2021: Super Charging Sellers’ Strategies

Fueled by historically low interest rates, all time high levels of committed—but unallocated—capital and impending tax reform, private equity deal volume and values have reached new, record-breaking heights, and they continue to rise during what everyone predicts will be a very strong fourth quarter. Frank Steinherr, co-head of the Private Equity Practice Group at McDermott, was joined by industry leaders to make sense of this very frothy and seller-friendly deal environment. The panel included:

  • Megan Preiner, Partner, Thomas H. Lee Partners
  • Geoff Lieberthal, Partner, Two Sigma Impact
  • Chris Harris, Managing Partner, FFL Partners

Access the full takeaways here.
Watch the session recording here.

HPE New York 2021: Prepare for Tomorrow

Kevin Miller—a partner at McDermott Will & Emery whose practice largely focuses on the securities, tax and regulatory aspects of complex transactions—moderated a panel during HPE New York 2021 that looked at how government actions will impact the market. The panel feature:

  • Diane Daych, Managing Partner and Co-Founder, Granite Growth Health Partner
  • Brian Fortune, Senior Managing Director, Farragut Square Group
  • Mara McDermott, Vice President, McDermott+Consulting
  • Alex Ruiz, Partner, McDermott Will & Emery
  • Thomas Scully, General Partner, Welsh, Carson, Anderson & Stowe

Access the full takeaways here.
Watch the session recording here.

Five Reasons You Can’t Miss HPE New York 2021

McDermott’s signature HPE New York event is right around the corner on October 15, 2021. This year more than ever, it’s a must-attend for private equity investors, healthcare executives, lenders, consultants and leaders across the industry.

Here are the top five reasons you don’t want to miss this exclusive event:

  • To help you navigate the current market’s unprecedented deal volumes and stiff competition, we’ll equip you with the latest analysis of the hottest investment sectors and game-changing deal strategies.
  • We’ve gathered the best and brightest minds in healthcare private equity to share their real-world insights into today’s market and the trends shaping tomorrow’s opportunities. Click here to view our roster of elite speakers.
  • Early risers have an opportunity to start their day right with our bonus Big Bankers Breakfast Discussion, where leading investment bankers will examine the current state of play and the dealmaking outlook for 2022.
  • This premier event is ultra-convenient. In light of ongoing safety and logistics challenges posed by COVID-19, we’re simplifying matters by streaming this year’s event right to your personal computer or device.
  • Registration is complimentary. In response to those continued challenges around COVID-19, we’re happy to offer complimentary registration this year and hope many of you are able to join us for this timely slate of sessions.

We look forward to virtually welcoming you to HPE New York in just a couple weeks. Click here to register today.

Five Financing Challenges In European Healthcare Private Equity In 2021 And Beyond

After a year during which uncertainty in the equity markets became the new normal, many stakeholders are wondering whether the disruptions are behind us. A look at key indicators might lead one to say yes. The S&P Loan Index has returned to pre-pandemic levels, the default rate is significantly below the peak of 10% seen during the great financial crisis, and roughly $840 billion of M&A value was realized in 2020 versus $802 billion in 2019—and $290 million in Q1 2021 alone. But under the surface, several COVID-19-related factors and other market shifts still have the potential to lead to second-order or longer-term impacts.


Impact Finance: Innovative Solutions to Target Global Health Issues

As the economic impact of Coronavirus (COVID-19) continues to unfold, demand for healthcare remains a unifying global factor and provides an opportunity for innovative investment models to aid recovery and growth. Between 2020 and 2024, global health spending is expected to rise at a 3.9% compound annual growth rate, considerably faster than the 2.8% recorded in 2015–2019.

Those responsible for buying healthcare services (payors) commonly monitor population health metrics and the impact of changes to the healthcare landscape, such as clean water or vaccination programmes to assess need and allocate resources as part of their mandate.


Sovereign Wealth Fund Investment in the Global Healthcare Industry

Sovereign Wealth Funds are state owned entities that are used as an investment vehicle by a state, and where the original investment funds are usually derived from state generated sources. SWFs in turn make investments into a variety of real and financial assets such as stocks, bonds, real estate, commodities, private equity, and other trading arrangements. They invest both in their domestic markets and also increasingly on a global basis, and are important funding and investment sources alongside traditional investors.

SWF: Aims And Objectives

It is important to understand that SWFs have additional aims and objectives, and different characteristics, when compared with other investors. These manifest themselves in the way SWFs formulate and adopt their risk policies (including appetites and tolerances), the manner of their investment, their liquidity requirements, the length of their investment timelines and how they organise other priorities.

Occasionally, these priorities can include environmental, social, and corporate governance (ESG) aims. In particular, an SWF may look at the societal benefits of an investment and not just the obvious economic or financial benefits.

Click here to read the full article in our latest International News.

HPE Miami 2021: Subsector Insights | Women’s Care

The field of women’s care offers investors several excellent entry points for innovation and growth. McDermott partner Joshua Spielman moderated this conversation featuring insights from Michael Chang, partner at BC Partners; Robert LaGalia, president and chief executive officer of Unified Women’s Healthcare; and Uttara Marti, managing director at Evercore.

Access the PDF here.

Women’s health continues to be one of the most fragmented sectors of the healthcare industry, which means that there are ample opportunities for new entrants and existing platforms to innovate, integrate and improve the delivery of care in this space.

Women’s care providers have an opportunity to expand their core OB/GYN and fertility focus. Providing additional wrap-around services can drive incremental value.

Women’s health is uniquely able to take advantage of value-based care arrangements, but key obstacles must be overcome first, including scale, provider buy-in and access to the necessary data.

Fertility services remain a strong driver in the women’s health space. More and more, employers are providing fertility coverage and benefits, helping to drive access and volume in this sector.

To catch up on all of the sessions from the HPE Miami 2021 Conference, please click here.