Anyone know the story on H2C healthcare M&A?
Anyone know the story on H2C just acquired by fifth third? How's the comp, hours, deal flow? Appreciate any insight to the M&A side, rather than debt capital markets, thx
Anyone know the story on H2C just acquired by fifth third? How's the comp, hours, deal flow? Appreciate any insight to the M&A side, rather than debt capital markets, thx
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Hi LevFinObsessed, check out these threads:
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Highly recommend avoiding. Lack of deal flow and poor culture. VP and EDs from San Diego run the M&A show. Expect you to work San Diego hours.
source?
Used to work out of nyc office
H2C is a joke and they run a shit process. Would avoid at all cost.
Any direct experience with them or just general reputation?
Direct experience through a process. The director running the process continually lied to push his own agenda. We went around him and talked directly to client to get back in process. Once in the room interviewing for Final Cut the director brought him md who lost his cool on my analyst. They were pissed we went around them in process (because they are morons) and tried to make us look bad, but it completely backfired infront of the client.
Our principals went as far as to reach out to FITB board members to let them know what happened. I will share the director and mds name in private. This firm is a joke and would avoid.
Talked with former H2C bankers and they got okay experience, but were looking to leave for a reason. M&A is weak and not a strong suit.
Do they have a strong suit?
IIRC non-profit and facility capital markets work
They're not a traditional sell side M&A shop, though they do do it, Fifth Third's own Coker Capital does HC sell-side as well and arguably better. Historically they've had success in advising Health Systems in capital planning/financing. They compete with Ziegler and Piper Sandler here in Midwest. They have other groups as well in Health Tech (San Diego) and real estate (a lot of former JLL guys, they mostly advise on the disposition of non-core hospital RE like office buildings). Hours and comp I can't say, but I'd imagine below street on both counts.
Can attest to all the above. They don’t know how to run an actual process and everyone suffers from it. That combined with the absolute worst culture possible just calls for a terrible environment.
Glad we’re not the only ones seeing it. In what capacity have you had to deal with them?
This is funny. Our shop just went through a process with them and it was a nightmare. We are a top healthcare developer and they have only brought us two qualified projects the last few years, of which they jerked us around and fumbled the process on both. As a firm we have decided to stop responding to their RFPs moving forward
Completed my analyst stint there. What you describe is very accurate.
Worked across from them when they were in the buyside. Seemed like a very amateurish shop.
Are you able to elaborate?
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Awful place. Even the head of real estate investment banking bad mouths his clients. He would act very friendly and then call them “jokers” or “idiots” once he hung up the phone.
Terrible place to work
That director is a fucking clown I know exactly who you are talking about. Hope you have moved on to a better firm.
Worked on a healthcare land deal with them in Philadelphia. It is mind boggling that anyone would engage this team of charlatans
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