Update on PWP HC
Any updates on the culture at PWP in 2026, specifically in the healthcare team? I've heard its quite sweaty. Do they still have strong deal flow? Aside from being sweaty, is there still a good culture?
Based on the most helpful WSO content, the PWP Healthcare (HC) team is known for having strong deal flow, particularly in devices and life sciences. However, it has been noted that their presence in biopharma is not as strong compared to other elite boutiques like Evercore, Lazard, or CVP. The deal experience in HC at PWP is therefore somewhat different from those firms.
In terms of culture, the HC team is described as "insanely sweaty," with a rough culture overall. While the deal flow remains robust, the demanding nature of the group and the challenging work environment are consistent themes. There is no specific mention of improvements in culture as of 2026, so it seems the team continues to be intense and high-pressure.
Sources: PWP NY Groups, PWP LA, Lazard LA, and Houlihan LA (RX), PWP RX culture/exits, PWP LA vs Lazard LA
Medtech they’re very good, arguably top overall, but beyond that not great (trash). I’d rank them below CVP/JPM/GS/EVR but they are very lean so as an analyst your experience is likely very good (sweaty).
They closed Shockwave and Penumbra, two of the largest sell sides in the space, and have done many other name brand transactions there as well. Huge key man risk though as they’re basically all done by one partner.
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