Top Banks for Healthcare/Best PE Exits
Couldn't find a thread on healthcare team rankings so decided to start one:
Going into junior year and have secured an IB internship for next summer working in healthcare. I do find this industry interesting but just wanted to get more insight into it.
For starters what are the top banks in this space? I have solid connections to an EB (EVR/CVP/PJT) just wanted to see how these banks healthcare teams are and if it is something to shoot for. I'm also open to trying to switch my focus to M&A rather than being in an industry group and go from there.
Finally, I wanted to see what exit opportunities the healthcare space offers (this may be a stupid question). What solid PE frims are out there that hire from these groups or is it more lateral hiring to better banks? Thanks in advance for the help.
Based on the most helpful WSO content, here's what you need to know about top banks in the healthcare space and the best PE exits:
Top Banks in Healthcare Investment Banking:
Bulge Bracket Banks (BBs):
Elite Boutiques (EBs):
Middle Market Banks:
Exit Opportunities in Healthcare:
Private Equity (PE):
Hedge Funds:
Corporate Development/Business Development (Corp Dev/BD):
Venture Capital (VC) and Growth Equity (GE):
Additional Insights:
This should give you a comprehensive overview of the top banks in healthcare investment banking and the potential exit opportunities in the space.
Sources: Best Healthcare Investment Banks by Verticals, Top Healthcare Groups for exposure (overall)? (NYC), Questions about Healthcare M&A, Healthcare Services Investment Banks Rankings, Healthcare Exits
Jefferies has a big Healthcare presence
This thread still rates names pretty accurately for today - https://www.wallstreetoasis.com/forum/investment-banking/best-healthcar…
CVP for EB. To me it's not even close, best in biopharma and know an ex-banker in corp dev that works at a company where CVP is their go-to bank. He seems to think very highly of them.
Jefferies for MM. Ton of exposure to HC Services which is the bulk of healthcare deal flow in the MM PE fund range.
JPM for BB. Their healthcare conference is legendary and the broad exposure to the healthcare industry can't be beat.
Thanks for the insight. How should I go about making lateral moves to these firms. Is it best to network and steadily move from mm-bb-eb? Curious if you have any thoughts on this, I’m just not trying to get stuck at current mm bank.
I have nothing to really add to be honest. I would cast a wide net. These are the top banks (IMO) in those brackets (MM - BB - EB). Any peer banks like them would still be great experience.
OP asked about best for exits. Biopharma coverage from CVP doesn't exit well into PE (PE doesn't play in biopharma). Once again, Jefferies is a top HC player in the MM but also won't be top for exits. Would likely pick a classic BB or EB with HC coverage beyond biopharma – HCIT, Services, etc...
HC is big and diverse enough that there is enough dealflow for everyone. That the general consensus is that JPM HC is the best one. CVP SF runs large cap biopharma sellsides. Moelis and Jeff are very active in sponsor-backed HC services sellsides. PWP is very good at medtech. GS/MS/EVR/LAZ good too for both experience and PE exits.
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