Comments (35)

Controversial
  • Analyst 2 in IB-M&A
5mo 

Large Boutiques: PWP, CVP (esp Biotech/Pharma), EVR

BBs: GS, JPM, MS

MM: Cowen, SVB, HW, WB

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  • Intern in IB - Gen
5mo 

Would also add Moelis for HC Services

  • 3
  • 2
  • Prospect in IB - Gen
5mo 

Aren't Jefferies and Piper also good MM HC shops too?

  • 2
  • CEO in IB - Cov
5mo 

SVB has taken a big hit - cantor is extremely good for HC. #4 in follow on transactions since 2017 (when sage kelly finally got settled in), only near JP, Jefferies and I think GS. they also have plenty of m&a and a relatively new Debt MD

  • 2
  • Incoming Analyst in IB - Gen
5mo 

Not sure why PWP isn't mentioned more. Top group there and is ran by the Ex JPM head of healthcare which is constantly boasted as best group on the street.

  • 2
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  • Prospect in IB-M&A
5mo 

Jefferies piper for sure as well with all mentioned previously. Would also add jmp after being acquired by citizens and potentially RJ

  • Intern in IB-M&A
5mo 

JP Healthcare dominates biopharma 

  • Business School in CorpStrat
5mo 

Do they have a NY team?

  • 1
5mo 
FerdaFerragamos, what's your opinion? Comment below:

Piper MedTech and HCIT definitely up there for MMs

  • 1
Most Helpful
5mo 
pipole4, what's your opinion? Comment below:

this one comes back every so often. 

this for example:

https://www.wallstreetoasis.com/forum/investment-banking/best-healthcare-investment-banks-by-verticals

it's hard because not everyone does everything and excels at it.

are you looking at fees? fees per banker? number of deals? specific verticals? specific types of deals (ECM or M&A? sponsor or corporates)...

a few things that stand out:

- JPMorgan probably consistently across all market segments. lots of bodies on the ground. covers all verticals

- some MM firms have very specific angles. Piper dominates in med tech for example. also fees share of Piper, SVB, Cowen for biotech IPO is impressive. for M&A less so (Piper was doing well on spec pharma M&A but their top banker left for Barclays (which is incidentally strong on spec pharma).

sell-side biotech? centerview #1 by far; Lazard fighting for share too. JPmorgan growing presence.

Large cap pharma advisory? most EBs (albeit don't print with every large pharma - exceptions are probably Evercore and Centerview); then JP / MS / GS / BAML (no specific order). Citi somewhat behind; others are more aligned with specific corporates.

CDMO? beyond thre BBs, RBC had a strong market share, but top CDMO banker left for Truist. 

HL is focused on buy & build, also good presence in healthcare marketing companies. some good presence in medtech too (notably Europe, although team is recent)

Jefferies is strong across verticals, quite MM focused, M&A is PE focused as well

  • Prospect in IB-M&A
5mo 

I think SVBs M&A fees last year were pretty sizeable. About 50%+ of their revenue was from m&a

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  • 1
  • Incoming Analyst in IB-M&A
5mo 

Services kills it volume-wise, pharma still holds a lot of big relationships but low activity from them (besides equity stuff), and unsure what the deal is with medtech after the junior turnover / culture problems. Definitely solid as a whole platform

  • Analyst 2 in IB-M&A
5mo 

HL, Jeffries, Moelis. for all things services / retail / multi site. You'll see some BBs win mandates in this vertical obviously but not at the same velocity. I'd say HL wins the most but will average smaller deal size wise.

I don't know a ton about the other verticals but I know Baird has a pretty solid pharma services platform out in Charlotte.

SVB and Tripletree also have great groups but I'd say are a slight cut below the rest.

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Funniest
  • Analyst 1 in IB - Cov
5mo 

OP asked for top hc shops - Crosstree is a bottom feeder and trash LMM shop. Notorious for shitty staffing.

Only thing going for it is that pay seems to be market according to this: https://info.crosstreecapital.com/hubfs/Crosstree%20Careers%20Overview%20v7.pdf

Plus HQ is in Tampa if that's your thing

  • 2
  • Analyst 2 in IB-M&A
5mo 

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5mo 
soxman139, what's your opinion? Comment below:

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