Are there ever deals that could be covered by HC or TMT? How is it decided who takes point?
Specifically thinking about consumer medical technology devices.
Examples: Wearables (from fitbit, whoop, elective continuous glucose monitor), at home test kits with heavy software component (blood, dna), etc.
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Goes to the group of the MD that brought the deal in
Makes sense, but which group/MDs would be bringing in more of those types of deals listed?
Does it ever happen where groups in the same bank compete over a deal?
Most HCIT/Digital Health/HealthTech bankers sit within healthcare, not TMT, across the Street
Echoing the above. My summer in IB I saw consumer taking these same deals (Fitbit, Whoop, etc.), so it’s almost entirely dependent on the MD. Realistically, the “analysis” done in tech vs healthcare vs consumer really isn’t all that different, so it’s the relationship that gets the team the mandate
Gotcha. Which group would you say gets the most exposure to these types of deals on average? I'm sure it varies by bank.
Another great example would be healthcare IT.
Usually what happens is the MD’s will jointly consult with the one bringing the deal in getting a better split of the fees. It’s not uncommon to have more than 1 MD on a deal.
So you could have one MD from TMT and one from HC?
But is it though? I feel HCIT is much more B2B SaaS companies. Not D2C platforms like Fitbit and Whoop.
Fitbit was advised by Qatalyst. WHOOP I imagine would be the same (TMT)
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