Best Healthcare Investment Banks by Verticals
Which investment banks are strongest in services/ IT? Med devices and med tech? Less interested in pharma
I know GS and Centerview do a lot of pharma, Morgan Stanley has strong Services, Gugg great Med Devices what about firms like JP/ BAML/ Evercore/ Laz/ PJT/ Citi/ Barclays/ Guggenheim/ Credit suisse?
Also which of these Healthcare groups have the best exits to HC-focused PE firms/ HC groups in MF's / HC Growth Equity. I'm interested in medical devices and med technology/ HC Services and IT PE.
Does anyone have any idea?
Thanks!
Piper comes to mind for Medtech-http://www.piperjaffray.com/2col.aspx?id=1371
Heard decent things about Citi's HCIT/Services
Also interested in top Medtech and HCIT/Services groups
PWP is also quite good in MedTech. But it's very hard to find banks who are so specialised in HC they only do MedTech or healthcare IT. Many put all branches of HC under one umbrella and pharma/biotech is still a large part of that.
They just poached the global head of JPM Healthcare
Yeah, Jeff Stute is now at PWP. Future powerhouse in the making.
Bump
I work in Healthcare Services/Tech, I see Triple Tree, Cain Brothers, WB, and HW. Not too much in the way of bulge bracket.
Can you please elaborate on TT? Curious to hear their progression over the years
Bump
Bump on TT perspective please. Thanks!
More for pharma/biotech but they do get a couple of deals occasionally.
JPM NY has arguably the strongest HC practice (overall) on the street.
I'll add HL
For the MM:
Among BBs GS still does very well in services and pharma. Med devices - not so much. Barclays does well in services. Feel like GS (first) and Barclays are best in HCIT among BBs. MS does some big deals but not a volume place. JPM, BAML and CS are shells of what they used to be - too many people left. Citi sometimes pops up. Not often. DB hired bunch of new people, so will see where that goes.
Among boutiques, you see Centerview in lot of pharma and services. I would call them #1 among boutiques in that space. Evercore and to some extent Lazard does similarly well in pharma / services. Guggenheim does well in all 3 and great in med devices - like legendary. Think Greenhill fell off the cliff and I don’t really see PJT (excluding today’s GE/Danaher Deal) and PWP much (although they hired the JPM dude recently). Moelis does well in few niche services areas, and more middle market (dental, behavioral).
In MM, Jefferies is the king of services. I still don’t know how they do so much work. And people already talked about some of the smaller places including Piper Jeffray in med devices and Cowen/SVB Leerink in pharma.
Agree with your post, except among the BBs, I thought JPM has the strongest healthcare franchise across the street no? (generally speaking that is)
I mean I don't keep track of it anymore but they dominated FY2017 if I remember correctly
And it’s 2019. You still see them on some stuff, but just not the domination like it used to be. Lot of people left across all verticals over last 3-4 years. They’ll still get lot of the ECM/Lev Fin, but lower than historic on M&A from what I see.
LOL. Only 20 bil, no biggie. I'm sure PJT was just having a good day.
Guess you work at PJT.
Guess you work at Snapple.
abacab Thank you for the detailed post.. this is very helpful
Any thoughts on Edgemont Partners? Seem like they're growing.
Very decent MM HC shop that seems to be growing rapidly. I believe their strongest HC vertical is pharma services followed by healthcare services. They had a record year in 2018 closing out 12 transactions. One MD was the former Head of HCIT at CS.
Anyone heard of Edgemont? What's the rep like?
Pretty good in the pharma services space (CROs, site networks, etc.)
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