Digital health / healthtech investment banking?

What coverage or industry groups cover digital health / healthtech (e.g. Teladoc, Noom, Calm, Headspace, etc.?) I met this senior partner/MD level investment banker at a major firm on the subway (we talked for like 45 minutes) and we're grabbing coffee, but have no idea about this space. Is it housed under TMT? Software? Media? Healthcare? Something else? Is this a good emerging industry to cover or just a fad since 2021?


PS: I'm a student at a non-target college in NYC and  do not work at Millennium Partners as my profile suggests

 

I’m just a student as well but from the conversations I’ve had with both healthcare and tech banking groups it seems that often both coverage teams will work on the deal, though the healthcare group will probably take the lead as some have a health tech vertical within the group. Sure this is firm dependent though.

 

Barclays does very well in HCIT (historically, I'm not sure how the HC team looks now). Spoke with one of their bankers before. Sounds like they don't mind people siloing into digital health / healthtech / HCIT at the junior level once you have some experience under your belt. Just be prepared for very long hours (2-3am nights sounded very common but the exposure sounded amazing, I think their analyst placement into HC PE is historically strong too).

 
Most Helpful

Usually HC and TMT collaborate - HC understands the industry landscape but TMT knows the funding/growth side and how to evaluate the tech they're using. Some banks this is a whole vertical within HC

It's an interesting group for sure. Not sure that any of the digital providers have really reached critical mass but the HC industry needs innovation. It's not the worst thing in the world to not know about the industry, just do as much research as you can and have a mental list of at least 10 questions. Not all need to be super industry-specific - ask about his career and thoughts on the wider industry or what is interesting about his work.

 

Qui eaque modi voluptas quia. Delectus qui deserunt neque molestias eum nihil sint. Nemo dicta natus omnis ex qui.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 11 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 06 97.7%
  • Lincoln International 04 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (82) $263
  • 3rd+ Year Analyst (12) $184
  • Intern/Summer Associate (32) $172
  • 2nd Year Analyst (62) $169
  • 1st Year Analyst (194) $159
  • Intern/Summer Analyst (142) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
Secyh62's picture
Secyh62
98.9
5
dosk17's picture
dosk17
98.9
6
GameTheory's picture
GameTheory
98.9
7
kanon's picture
kanon
98.9
8
CompBanker's picture
CompBanker
98.9
9
numi's picture
numi
98.8
10
Kenny_Powers_CFA's picture
Kenny_Powers_CFA
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”