Thank you PitchBook and Rebecca Springer, PhD for participating in this year's HCMIS24 event including the ACG Columbus breakfast. We appreciate your insights and follow up
PitchBook Analyst Note: Takeaways From the 2024 Healthcare Capital Markets & Innovation Summit
• Secondary innovation ecosystems such as Columbus, Ohio represent fertile ground for proprietary deal sourcing, but early-stage founders in these ecosystems need additional support commercializing, professionalizing, and accessing capital.
• The Ohio healthcare community is waiting for further news of General Catalyst’s Summa Health acquisition with a mix of optimism (what might this do for the region’s budding healthtech startup economy?) and skepticism (Summa will require considerable operational muscle to transform into a model of value-based care integration).
• The dealmaking environment continues to be marked by risk aversion and (with a few exceptions) buyer pricing discipline. A handful of platform deals publicized in the past month provide some encouragement, but the recovery in deal activity will be slow and moderate.
• Regulatory scrutiny of PE continues to intensify, particularly at the state level. Recent legislative action in California and Oregon, as well as the increasingly bipartisan nature of congressional interest in PE’s role in healthcare, underscores the need for intensive due diligence and proactive engagement when investing in healthcare providers.
• Lower-middle-market firms continue to play out healthcare IT theses but, as we have written previously, must constantly wrestle with unrealistic valuation expectations on the part of sellers.
• Dental and veterinary, while nowhere near “hot,” are seeing some continued investor interest.
• Although add-on valuations are down slightly, medspa remains competitive, with new players quietly entering the arena.
• There is a disconnect between the dire need for greater provision of high-acuity mental health treatment and the unsustainability of many inpatient and residential business models.
a few PE sponsors represented included Avesi Partners, Eir Partners, Excellere Partners, McCarthy Capital, RC Capital, Revelstoke Capital Partners, Stonehenge Capital, Trivest Partners, Council Capital and GTCR LLC. Companies OnKai Inc., RE-Assist, CaringWire, BioMEMS Diagnostics, Syra Health, HEAL Security | Actionable intelligence on cyber threats, risks, and remedies for Healthcare, codexIT, Cyber Trust Alliance Inc., HeroWear, AccessVR
#HCMIS #HCMIS24 #Dealmaking #healthcareinnovation #TheSmartHealthCity #Columbus #privateequity #venturecapital
#ACG #ACGColumbus
https://lnkd.in/gV8tyn_m
