Hi everyone, As you may all know, we the Canucks of Canadia, have benefitted greatly (in most cases) from having a universal healthcare system. I know that our single payer health care system has its inefficiencies as it relates to wait times for procedures, organ donations, and high costs of providing care in some areas, but through regular discussions with fellow citizens I find that nobody is opposed to the system we currently have as a whole. While we may disagree on logistics, funding and operations, I think us Canadians all agree that we wouldn't want any other system. Ever since I moved
21 Jul 2020
Hi, hoping to see if anyone has insight or access to information that sheds insight on the top healthcare groups on the street? Are there certain firms that outperform in this area over others? I understand there are various verticals and sectors in Healthcare and some firms may outperform others in that particular area but was hoping to see overall wise, which firms would be the strongest in the Healthcare space for an overall healthcare investment banking experience. From research and previous threads it seems top groups HC overall: BB: 1.) GS/JPM 2.) Barclays/BAML 3.) Citi 4.) MS 5.) CS 6.)
02 Jun 2020
It was suggested that I do a Q&A by some of the WSO folks after my recent podcast with Patrick. Check out my podcast & video here and my mentoring profile here #### A brief background of myself: * From a non target school in a B/C tier city, graduated with 3.4 * Interned in UHNW family office and ER * Decided to follow something I found more fulfilling and did a 1 year FLDP at a major healthcare system * Worked in corporate/operational/data heavy finance for 2 years in population health post FLDP * Left major healthcare system to join a PE portfolio company in the pharmacy industry still in
01 Oct 2019
A2A at a BB with ~5yrs of experience in Healthcare Investment Banking coverage. Current focus towards the Biotech/Biopharma subsectors. M&A focus; transaction experience across all common product groups. To preempt, I do not have a medical degree but do have a natural sciences background.
13 Nov 2017
I am transitioning to a financial analyst role at a late-stage startup ($50+ million in sales expected this year) and was wondering what life is like at a startup. Those who work at a startup, how do you navigate being at such a young company? Have some of you worked at multiple startups? How do you go about securing more equity (I will be getting some stock options to start but nothing crazy)? What are exit opps (other than the company killing it and everyone getting rich) like? Possible to move to VC? This company is in the healthcare industry, not tech. Ik the answers to my questions will
21 Jul 2020
Hi, I want to start out by thanking anyone for reading this. I am a 23-year-old male who is optimistic about life even when I probably should not be. I have been lurking here for a while, drooling over the success stories of some the most intelligent and hardworking people I have ever been exposed to. I feel ashamed even sharing my story, but I figure its time to atleast get an opinion. So I will tell you my story. I am a 23 year old college student who matured only a year ago. I entered an easy admission public state school after highschool because all of my friends were going there and we
16 Aug 2019
Any recent reports on the industry (any and all verticals) would be greatly appreciated. Couldn't find anything beyond a few old ones on sketchy sites and some recent public MBB reports.
05 Nov 2019
So I just got notified that I've been invited to interview at a top tier growth equity firm, and the opportunity just sounds absolutely amazing so I'm desperate to land the position. If someone currently at a growth equity fund wouldn't mind elaborating on the interview process, I'd be forever grateful. An overview of the typical growth equity interview process, some fit / industry (HCIT and B2B SaaS) questions they'll probably ask, general finance questions more relevant in GE, etc. would be great. I've only found generic overviews with search, and I also have additional questions. I will
27 Sep 2012
Got placed in a product group at one of GS/MS/JPM and am very excited to be here. If I were to consider buyside opportunities, I think I would LOVE to exit to a Healthcare focused firm or at least at a place where I can get lots of Healthcare exposure. I have no doctors in the family, was not a bio or chem major, and barely keep up with the industry at the moment, mostly because I barely keep up with any industry at all given I am fresh out of school and currently focusing strictly on my job. I would want Healthcare because I am genuinely a pretty intellectually curious person and would likely
27 Oct 2020
Hello All, For some background, I'm currently working in restructuring consulting and i am expecting an offer from an MM IB Group. My current compensation structure is $140k base and approximately $30k bonus. I'm lining up for promotion so expecting atleast another $10k in salary. An external recruiter I've been working with on this investment banking associate process has communicated to me that I will be receiving an offer. When we talked comp she mentioned average for IB Associate is $125k (seemed low). When I consider the offer I'm hoping at-least $150k which I read is street for A1. Given
25 Dec 2020
Curious about what kind of candidates healthcare and biotech-focused VCs look for. It seems like many partners have a Ph.D or an MBA - how necessary is that? I'm certainly aware there isn't just one path. For context, I am a graduating senior and deciding between three offers in MBB consulting, and BB healthcare investment banking (both at analyst level). I also have an opportunity to join a biotech startup instead. MBA or science master's degree are an option in the future! But the end goal is VC.
25 Jun 2018
Hello all, I am a masters of applied science student in Biomedical engineering at the top program in Canada. I am looking to transition to healthcare IB after my degree is done. I have wicked strong quant skills, knowledge of medical devices and technology, and knowledge of all approval processes around the world. I appreciate that it will be tough to get my foot in the door because I do not have experience. Would people on this forum be able to recommend a list of banks (of any size) that I should look into for healthcare IB. Obviously I'd have to reach out for an internship because I don't
31 Mar 2021
Anyone have any updated info on these funds? I'm thinking Redmile Group, BVF, Ecor1, Farallon's HC book, and any other SF Biotech fund I'm forgetting here. I'm very interested in learning more about these funds in general but specifically interested in more info about nuances in strategy, and interview processes. Also would be great to know what head hunters could put me in touch with any of these funds. I'm currently an analyst at a top five biopharma coverage group and would love to work at one of these funds eventually.
05 Sep 2020
Hey Guys, I'm trying to understand what differences there are between the BCG offices in the East Cost. I'm currently considering the Boston and NY office. I have been said that the NY office has a really rooted and strong Healthcare Practice (many senior partners involved). Does anyone know more? Thanks,
24 Oct 2019
Both industries are interesting and have a lot of developments happening within them. I know that Technology and Healthcare go hand in hand often - does this mean that the Healthcare group will cover a healthcare technology company or would that be covered by the Technology group, does anyone have any insight into how this works? Is one industry better for PE/VC than the other? It seems as though with TMT you could transition into a startup/tech company/VC/PE, it seems with healthcare it is more common that analysts would go into PE? Does anyone have any insight into this or could argues pros
01 Jun 2020
I am looking for Healthcare specific accounting questions or interview questions to consider for a healthcare IB role. Basically, other than the general valuation methodologies and other general IB questions. What should I be prepared for a technical interview? For example, for software companies is important to adjust EBITDA for coding expenses that are capitalized rather than expensed. Something similar for Healthcare? Most popular multiples that are used? Unusual valuation details that I should be aware of? Accounting details that I need to be aware of? Thanks
28 Aug 2020
I'm a physician (MD) turned consultant at MBB (US). Really enjoying the work so far (healthcare exclusively so far), but starting to think about exit opportunities (3-5 years down the road). 1) What are some common exit opportunities for associates/managers at MBB in the healthcare sector? (including salary, hours etc) 2) In addition to healthcare which would be the most straightforward path for me, I have a keen interest in finance, though no prior training (life science undergrad --> med school --> residency --> attending, no MBA), nor work experience in finance. As you can imagine, I am
08 Dec 2020
Hey guys, so as the title says, I managed to get an intro call with a healthcare IB MD. I've spoken to a couple of associates and analysts at other firms already but I feel as though the calls usually don't go anywhere. How do I impress this MD and leave a good impression ? I have absolutely no prior IB experience and am a recent graduate from a non-target school. I've been taking the initiative of learning basic modeling on my own. Does anyone have any tips to leave a good impression with this guy ? Thanks in Advance!
26 Feb 2020
Investment Professional in Global Large Buyout Firm, with focus in Healthcare investments. Transitioned from Strategy Consulting into Private Equity. Can discusss about: Private Equity recruiting (in USA and Europe), transition from Strategy Consulting to Private Equity, trends in the industry, mock interviews, etc.
24 Feb 2020
I know a lot of commenters are saying on other posts that almost any group is willing to give you a FT offer unless you mess up, but the DI group said that they specifically want to give all interns FT offers, but healthcare takes 18 interns (or so I heard) so wouldn't that mean it is much harder to get a FT offer and stand out in healthcare since there would be so many of us? I am considering many factors while I pursue groups, and obviously one is the likelihood of being invited back, so is there some reputation of certain groups, especially larger ones, dropping more interns? Right now I am
01 Feb 2021
It seems as if Amazon has its hands in every cookie jar, healthcare is only just one of those jars. Ever since Amazon acquired wholesale pharmacy licenses, the healthcare industry has been on high alert. One example of this is CVS (the drugstore giant) buying Aetna (one of the biggest health insurers) for $69 billion
12 Mar 2018
Equity researcher interested in getting transaction experience with SMID biotechs and have limited insight/expectations on IB analyst programs. Any perspectives on expected experience (transaction exposure, analyst responsibilities etc.), assessment on the quality/type of IB bank, likely exits given limited history, and other points would be really helpful. https://www.lifescicapital.com/investment-banking/ New (2018) healthcare-focused IB boutique, part of the LifeSci company network which includes the #1 U.S. biotech investor relations firm. Involved in 17 transactions in 2020 (10 follow-on
02 Jan 2021
Moelis has started recruiting summer analysts directly into Healthcare/Life Sciences in addition to the generalist M&A / RX program in NY. Anyone know how strong the group is/culture at the firm?
25 May 2021
We offer a person-centered approach to keep seniors safe and sound at home, instead of anywhere else. We support people to do the extraordinary every day. Our agency is true to its name. www . fromthehearthomecaresc . com We strive to provide the utmost home care for your family and loved ones. We are determined to care and protect our clients as we would our very own family, allowing you to rest in assurance. It is our belief that if each and every one of our participants are cared for with love and compassion, there will be a legacy left behind from From the Heart Home Care, LLC that will
16 May 2021
Hi all, I am a first year analyst in the healthcare group (Pharma & Biotech) at a bank in New York. As many of you know/have experienced, buyside recruiting is starting to get underway and I am curious if anyone has a list of healthcare focused hedge funds? Or if anyone knows any off the top of their head? I am particularly focused on hedge fund recruiting, but I am really only interested in funds that are specifically healthcare focused/have a large healthcare focus. Thanks for any help!
02 Nov 2014
In case you guys missed it, here's a link to President Obama's State of the Union speech from WSJ. As always, I really enjoy listening to the President speak. Regardless of policy, I think it's important for us monkeys to listen to this speech. Some of the topics discussed include: the economy, jobs, taxes, innovation/technology, education, immigration, infrastructure, and healthcare. I think it's one of the better speeches in the last couple years. The only thing left is to see how he follows through on his promises. WSJ: Pres. Obama's Speech
26 Jan 2011
Now that Evercore's M&A NYC Analyst class is getting bigger (~50 Analysts) and they are placing Analysts into groups earlier - I was wondering what the top groups at Evercore are considered to be? I'm interested from a deal flow perspective, prestige perspective, and best exit opportunities into PE mega-funds (Blackstone, Apollo, KKR, Warburg, Carlyle, Bain, TPG). Specifically for NYC and specifically for M&A.
23 Aug 2019
How normal is this? lol I just read this and a lot of people get calls wrong, but for this one to get called out and not much of a response makes me wonder what's going on behind the scenes. For a good laugh. Vertex - Morgan Stanley The head of Vertex Pharmaceuticals Inc. (VRTX) used an appearance Tuesday at an investment-bank conference--normally a staid, cordial affair--to take to task one of his company's biggest critics, who also happens to work for the host bank.
27 Sep 2011
Goldman Sach's recently issued a 93-page bullish outlook for the industry, with overweight ratings on technology, energy, and basic material stocks. Especially after the beating energy shares have taken over the past five weeks, the time may be right to buy. This link was provided by ZeroHedge. The report highlights GS's investment process and ranking methodology. Click Link for Full Report View: http://leverageacademy.com/blog/2010/06/03/ninety…
03 Jun 2010
Anatole Kaletsky argues that baby boomers are ruining their country by voting for politicians who put more money into healthcare and pensions (programs for the elderly) as opposed to education and other programs towards the future. He makes a good argument. Thoughts? [quote] Why, for example, are governments everywhere running out of money, not just in Britain and Greece, but also in America, Germany, Japan and France? Why are taxes relentlessly rising in all advanced capitalist countries? And why is public spending being cut on schools, universities, science, defence, culture, environment and transport, while spending on health and pensions continues to rise?
02 Jun 2010
Would like to know how large healthcare groups typically are at BB/boutiques in San Francisco. Also how many analysts/associates do they typically hire each year?
06 Apr 2020
I'm sure you've all seen it: The less fortunate, fat kid eating *Insert fast food here* and the parents not worrying(or knowing) about nutrition. I did some work around foreclosure valuation in college, and spent a solid two summers driving around in what I've deemed "The Hood" in Boston. Fast forward to a recent conversation with a coworker: Her mom works as a nutritionist in a poorer area, and encounters the following on a regular basis:
12 Dec 2012
After graduating I will be beginning my analyst role at a healthcare focused boutique in SF. I'm assuming the firms creating tests, providing hospital beds, ventilators, and telehealth will have plenty of work. Obviously deal flow will be drying up across almost all sectors with the imminent recession, but can anyone in the healthcare space provide insight on the industry right now? This may also be helpful to those who are industry-agnostic and beginning recruiting for SA roles.
27 Mar 2020
I recently came across this new health-tracker on the net: FromTechCrunch:
It enables you to detect influenza, see fertility trends and keep track of your testosterone, inflammation and Vitamin D levels by collecting samples from your body (e.g This San Diego-based startup, which was founded back in 2009 in the midst of the swine flu peak and has attracted more than $1 million in backing from an undisclosed U.S. angel investor, is building a hybrid electronic-mechanical-chemical connected device that it says will enable people to quantify their health at a molecular level.
26 May 2014
So I've come across a new sector in real estate (read: title) that kind of had me interested. Does anyone have any experience with investing in social housing, healthcare and social infrastructure when it comes to real estate? Would love to understand more about your experience, how you approach an investment and general strategy. Also, how transferable is the skill set that you build in roles such as this? Obviously, the technical part is covered, but to me it seems like the underwriting process, DD and general transaction analysis is rather specific, which makes me think it could be
24 Mar 2021
I have done research and worked with some guys at my school who are also STEM majors with business interests, and one of the guys who I've done research with has landed himself as the provisional-patent holder of a really tremendous piece of technology. I have no doubts about the science, and I feel confident about the business plan we have come up with so far. I am however concerned about what will come after.
07 Jan 2015
Hi All I'm graduating from a semi-target in December, pre-med major, 3.5+ GPA. I'm wondering if anyone could share some thoughts on Cowen Healthcare and Leerink in terms of prestige, deal flow(# and size), and exit opportunities? Obviously I'm interested in Healthcare IB. I know Cowen is a top boutique but having trouble with their HC group. However, I've never heard of Leerink until recently but I was told they are comparable to a typical HC group in a BB, is this true? Any thoughts would be much appreciated, Thanks.
20 Nov 2010
I'm currently finishing up my first year at a mid-tier bank on the west coast. We are going to be choosing our full-time groups soon. My question is: will choosing healthcare put me in a position to only do healthcare related stuff down the road? The issue is that our tech group isn't really getting anything done while our healthcare group has a good amount of deal flow. What I want to do after my analyst stint is to join a PE shop. What I don't want to happen is to limit my exit opps and only being able to work in healthcare focused PE shops or companies. Unfounded worry? If anyone has any
27 Apr 2010
For those of you with experience in Healthcare industry coverage, which HC verticals do you find to be the most prestigious and gainful long term (as concentration areas)? If you had an opportunity to select your area of focus, which vertical(s) would you select and why? Prospective areas: Acute Care, Managed Care, Healthcare IT, Diagnostics, Lifesciences Tools, Distribution/PBMs, Pharma Services, Pharma, Biotech and MedTech. Any specific thoughts on which areas are typically run out of San Francisco vs. New York? Any specific thoughts on which firms excel in various verticals? Looking forward
03 Jul 2014
Hi friends, quick question I'm trying to wrap my head around. How would you value a pre-revenue biotech company with negative cashflow? Further to this, if you tried to using comps or precedents what relevent metrics would you look at? If a DCF, would you project a terminal value? Thanks!
18 May 2016
I'll be working at a smaller MM/larger boutique in Healthcare/Life Sciences. I come from a science background, but I was wondering what should I do to prepare for the internship. Should I take an online financial modeling course? Any books that I should read? The internship is set up in a way that the MD said I should be getting to work on a few deals in various stages any advice?
06 Apr 2011
Hey everyone, I was wondering if someone could explain how Healthcare Royalty Partners operates as a firm. Is this classified as a form of private equity? What is the comp and comp structure at a firm like this? Potential exits? Here's their home website to provide some background: https://www.healthcareroyalty.com/
27 Jun 2019
I'm a junior neuroscience major at a semi-target going for an IB internship this summer. I struck out on one superday so far, but have a few more in the pipeline from mid-January to early Febuary - all based out of San Francisco with a healthcare or tech emphasis. I also have two soft offers from local VCs. Before Winter semester starts, I'm thinking of switching my major from Neuroscience to Genetics. My rational is this: 1. Genetics does not require O-chem or Biochem, traditionally murderous classes that could sack my GPA. Also, there are less classes to take overall so I can cut down on my per semester class load, giving me more time for internships, networking, and extracurriculars.
24 Dec 2014
Substance abuse treatment centers help those who are dealing with drug abuse, alcohol abuse or addiction of any pain medications or illegal drugs. Addiction can be very dangerous as it will affect your body, mind and your ability to think and work as well. Substance abuse treatment centers provide care and medication addiction to the addicts.
08 Feb 2021
Visiting a dental clinic will help you to deal with many dental issues, get full oral checkups, figure out disease etc. The treatments might include, dental implants, dentures, dental crowns, invisalign, braces and much more. It is essential to visit the dental clinic from time to time for regular checkups.
08 Feb 2021