Healthcare Banking 2020 Coronavirus
What’s the status of HC banking teams during corona? I imagine it’s not as affected as other industries would be. What kind of advisory/financing activity is going on in this market? Also, what specific groups are doing well? Appreciate any input.
European BB, London
Busier than I have ever been. Most live transactions went on and were not put on on hold. I would say mostly M&A; private funding and a tiny bit of DCM. Forget ECM and high yield financing. Lots of pitching, mostly for M&A to take advantage of the low-valuation environment,.
Within healthcare, I would say hospitals, clinics (dental, ophthalmic, fertility, outpatient, etc.), and elderly care homes are doing very bad. Firstly because all non-essential care (which has higher margins) is postponed in order to increase capacity for Covid-19 patients.
Subsectors that are doing well are hospital equipment and supplies (masks, respirators, ventilators, air pumps...), diagnostics and testing (both devices and services), OTC drugs (people stockpiling), some pharma (the ones who have a shot at finding a vaccine, a treatment or symptom-alleviating drugs)
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