Healthcare Investment Banking BB bankIB
Am new to WSO. Have interned in a top 10 UK bank and am now looking to move to a BB in the healthcare team.
Am trying to brush up on healthcare specific valuation methods - specifically for:
1). Pharma (am thinking just normal multiples, dcf etc for big pharma - as ultimately they are large businesses with cash flows) - biotech, maybe some kind of product NPV or probability weighted DCF?
2). Medical devices - also multiples/ dcf. anything specific on this one?
3). Services/ Hospitals (dcf) specific multiples ie. EV/ number of beds?
Generally am just trying to get some colour on how healthcare stuff is valued, and how it differs from the 'textbook' approaches to valuation. Also any comps adjustments that people normally make much appreciated for colour also.
Thanks a lot guys.