Healthcare Capital Markets and Innovation Summit Draws More Than 300 Attendees to Columbus
Rebecca Springer, Ph.D., of PitchBook, presents on the deal-making environment in healthcare.
The 4th annual Healthcare Capital Markets and Innovation Summit (HCMIS) took place in downtown Columbus, Ohio, June 5-6. Over 300 healthcare leaders, innovators, dealmakers, and adjacent professionals attended the event hosted by Lawrence, Evans & Co., LLC. Key presentation topics included healthcare investment and lending activity, emerging technologies, and IT security. HCMIS is now an annual destination for middle-market, private equity (PE) firms seeking a proprietary deal-sourcing edge. Attending PE sponsors included Avesi Partners, Eir Partners, Excellere Partners, McCarthy Capital, RC Capital, Revelstoke Capital Partners, Deerpath, GTCR, Trivest Partners, and Stonehenge Capital.
“In 2021, despite the pandemic, we knew we were onto something with HCMIS," said Neil Johnson, managing partner at Lawrence, Evans & Co., LLC. "For this year's event, we're more than 300 strong, with key leaders in healthcare and venture firms here from Ohio and across the country. We’re delighted to provide a place for regional founders in healthcare provider organizations, healthtech, medtech, and life sciences to build partnerships with top-notch investors.”
On June 5, in his opening remarks, Tommy Barletta, Jones Point DC managing partner, reviewed the state and federal outlook for PE investments in healthcare. Corporate greed in healthcare is now a bi-partisan talking point, Barletta noted. There’s also a growing number of grassroots organizations emerging to oppose PE and other corporate interests in healthcare.
Rebecca Springer, Ph.D., lead analyst at PitchBook, presented an update on the deal-making environment for PE in healthcare. Due diligence is extensive, Dr. Springer noted. Buyers remain risk averse. Still, there’s growth in pharmaceutical services platforms, as well as recent deals in applied behavior analysis.
Other presentation highlights include:
Andrew Panos, president of Cloudbreak Health LLC, and his rollicking account of his digital healthcare rollercoaster from PE to special purpose acquisition company (SPAC) to PE once again.
The "Real World Applications of AI in Healthcare" panel, featuring Ronald M. Rerko, director of healthcare and life sciences at Onix; Ryan Vega MD, MSHA, chief health officer at VANTIQ; John Ziegler, partner at Healthcare Design and Innovation Group (HDIG), and Ben Reigle, CEO and founder of Tarpon Health.
The "IP Strategy and Value of Patents (CLE Credit)" session, which covered patent commercialization and IP licensing, and featured Andrew Corris, senior licensing associate at Nationwide Children's Hospital; Neil Wyant, VP of investment and commercialization at University Hospitals Ventures (Cleveland); and Shannon McCue, IP strategist at CueCards Legal.
A session on the venture studio, a newer and often misunderstood asset class, with Brian Zuercher, General Partner at 1870 Ventures; JD Friedland, Managing Director of Ventures at Cleveland Clinic; Elliott Parker, CEO of High Alpha Innovation; and Neil Johnson.
What It Means to Ohio
HCMIS organizers are delighted to play their part in helping grow Columbus as a site for proprietary deal sourcing. There’s still work to be done, though, to ensure early-stage founders in these ecosystems get the necessary support in terms of access to capital and partners.
Many out-of-state visitors raised questions about General Catalyst and its acquisition of Summa Health. Could it serve as a boon for the region’s budding healthtech startup scene, Dr. Springer wondered, or will key players be brought in from Silicon Valley?
What They’re Saying
“The timing for the fourth annual Healthcare Capital Markets and Innovation Summit couldn’t be better. Ohio is presently serving as the crossroads where market logic confronts value-based care. Right now, venture capital firm General Catalyst via Health Assurance Transformation Corporation (HATCo) is trying to acquire–or invest in–Summa Health, a non-profit teaching hospital system in Akron, Ohio. It’s a fundamental clash between one of the largest venture funds and one of Ohio’s largest integrated health care delivery systems. Time will certainly tell, first, whether this deal gets across the finish line and, second, the impact a deal (or no deal) will have on models of healthcare for the future."
– Neil Johnson, managing partner at Lawrence, Evans & Co.
