Saw a post about this for London, but as an incoming summer at a mid-tier BB healthcare group, curious about how EBs in NYC have done in the space. I'm definitely looking at lateraling as a future possibility and would love to only work in the advisory space (debt/equity processes don't interest me as much).
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Centerview is the best. Hands down.
Noone else really worth talking about from a boutique perspective. Obviously you will have the other usual suspects but Centerview is the best one.
Yeah agree with the above. CVP owns some insane market share of large cap Biopharma m&a (if I were to guess it’s close to 50%).
Almost seems like everyone else is fighting for scraps in that space.
Doesn't Centerview run most of its biotech/pharma out of SF though? Correct me if I'm wrong but I though their healthcare presence in NYC was fairly small.
That is nonsense saying no one else is worth talking about from a boutique perspective.
Evercore has an excellent HC group.
PWP is very strong in medtech + diagnostics but those are definitely smaller spaces than the biotech/pharma world.
Lazard and PJT also have reputable HC teams.
After Centerview is JPM and probably GS.
Then you have MS and the boutiques you named if you really want to talk about HC.
Guggenheim also has an excellent biopharma team
Lazard killed it in healthcare in 2020.
This, just at their deals in 2020.
CVP had a great year in 2020 but Gugg biopharma and med devices are a close second imo
Centerview and Evercore
/thread
Moelis has a great healthcare services team
Centerview, Evercore and Lazard are super strong. Jefferies is supposed to be sweaty as well?
Not even in the space but had a friend at evercore who did HC and even he said CVP was a clear cut winner in the space (specifically for biotech I'd say at the very least)
I do the most work with Jefferies. The 'catch all shop in HC for smaller deals is Torreya. They'll sell anything
Kind of shocked at some of the stuff they've actually gotten sold.
.
Also curious!
Can you elaborate on this? Thanks.
Honestly, can't tell if this is meant to be a positive or negative comment. Can you elaborate?
Its a positive comment - I pm'ed him and this was his response
''Yes--by that i mean it as a positive thing'' He elaborated more but I wouldn't want to share that here.
Cain Brothers is up there
Depends on the sub-verticals (eg. Biopharm, Pharma, Services, Consumer Health) within healthcare, but mainly Evercore and Centerview
Depends on the HC vertical - for digital health MM - Cain Bros, Triplepoint, Jeffries, William Blair, Raymond James, Leerink, Ziegler are all pretty good. PJ Solomon is building a new team with good talent, and Brentwood Capital has recently brought on some senior people I respect.
Two words: Jami Rubin
She is a real person no doubt but she only became a banker a few years ago.
Kind of a stretch to make her sound like some super rainmaker.
delete
CenterView is obviously great in pharma and also do good in HC services (including some
HCIT) but they don’t do med tech (Cantel was done by pharma guys). Evercore pharma kind of disappeared lately until GW deal. I don’t think their services team did any deals last year? They don’t do med tech. Guggenheim does all 3 and best med tech team on street. Pwp only seem to do med tech. Moelis more services focused and just lost the MD for half the business. Other half is dental, derm type covid impact PPM business. They don’t do as much pharma / med tech. Lazard is in some huge deals but not as much in volume. In all these banks, the sub vertical teams (and often MDs) run their own empire (vs a large HC group like at a BB).
Perella crushes it in HC too - as someone mentioned above, MedTech especially
I keep seeing this but their transaction page is really not that populated
Like Lazard, they occasionally get on huge deals in the subsectors they cover. PWP Healthcare has very solid PE exits (Carlyle HC, etc).
Gugg medtech is rumored to get comp/bonuses equivalent to CVP HC team. By far the best team on the street too with that subsector.
SVB Leerink just hired like 10 of the best HC bankers on the street. They will be a HC EB by EOY.
....
Which are the best firms in biotech/med devices. Curious about BBs, too.
CVP = biotech (although all the other EBs are quite solid too)
Gugg = medtech
I feel like so many firms have solid HC platforms - you can probably say it about every EB
While the medtech team at Gugg is well respected as a top team. They also work ridiculous hours and have one of the worst cultures at the bank if not the worst (I’m at Gugg but in a different vertical). Their group heads are not in NYC as they have so much clout they cannot be bothered to come back. Two live in Florida and the other is in Texas building a mansion. This creates an odd culture where the physical in office team is just a bunch of analysts and the occasional associate/VP. They had a huge exodus last year post bonus where they were left with 0 Vps and 0 Associates. Currently more than 50% of the team are laterals.Guggenheim has become a very large firm in recent years, now over 800 bankers. A lot of the groups tend to hang out with one another, and analysts often have a lot of friends in other groups whom we hang out with outside of work or during our downtime. The medtech group is truly an animal of their own. I would say the best way to describe the juniors there are passionate hardos, not necessarily in a bad way, but it can def be intense. The sort who could go home to wfh after 7pm but choose to stay in the office and only talk about their projects during lunch and happy hours. They’re a bit siloed in, both culturally and socially. But hey, that works for some people. They’ll probably make more than me this year and close more transactions, but we do more than enough good deal flow that I don’t mind.
For Med Devices, hands down Guggenheim. Biotech is heavily dominated by CVP with latter podium places held by a mix of Evercore, Guggenheim, PWP and PJT. Moelis doesn't do much biotech as they're mostly on sponsor backed service deals and Lazard has mostly made their name off services and HCIT deals although they are getting into the mix as well.
For the BBs biotech is the bread and butter of JPM given they host a conference every January where everyone who is a somebody shows up to discuss deal making and their latest research. GS does well in this space as well, but they operate a more holistic HC practice where there is an equal focus on services and biotech (not much MedTech activity from what I've seen). MS/BAML from a fee standpoint are tied for 3rd.
Does CVP do their HC deals out of NYC or SF?
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