Valerie Dixon

CNBC: Marc Rowan of Apollo Capital shares a provocative perspective on the convergence of public and private equity, challenging concerns over daily mark-to-market fluctuations and liquidity discounts. He posits that the origination business could serve as the ultimate bridge between these realms, promising a tantalizing future for investors. This is a conversation worth tuning into. #origination #publicequity #liquidity

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Hospitals are facing a moment of transformation. While many innovations aim to move care beyond the hospital, these facilities remain central to the healthcare system—and a $2.5 trillion market. The challenge? Balancing growth and profitability, especially for smaller systems under pressure. At @BedfordBridge, we’re digging into how technology can drive meaningful change in hospital operations and care delivery. There’s no shortage of work to be done, but the opportunities are clear.

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Our new survey, AI Radar for Private Equity, explores the transformative impact PE executives are seeing from AI on value creation, dealmaking and strategy. Explore it here: https://lnkd.in/etYMGqJk Key contacts: Jiva Jagtap and Sumeet Gupta hashtag#AI hashtag#ArtificialIntelligence hashtag#PrivateEquity

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McKinsey's recent article highlights the "value creation gap" in private equity, where traditional financial engineering is no longer enough. In today's challenging market, PE firms must prioritize operational efficiency to drive value. This shift places a greater emphasis on CFOs and finance leaders to align financial strategies with operational improvements. Key takeaways include the need for rigorous operational diligence and the integration of value-creation strategies into investment processes. Focusing on operational excellence will be crucial for achieving superior outcomes as the deal environment slows. The key to success in any of these initiatives is strictly disciplined prioritization. Too often these initiatives experience "scope creep" and get off track quickly. Always approach these with a well defined strategy and outcome. For more insights, check out the full article linked below. #PrivateEquity #ValueCreation #OperationalExcellence #FinanceLeadership

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A small but growing cohort of investors is taking midsize tech companies private and driving substantial margin improvements. Explore our latest episode of The Dry Powder #Podcast with Hugh MacArthur and Greg Schooley to uncover how industry leaders are navigating this complex landscape and what it means for future investments. https://bit.ly/3Yp7GAQ

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🚨 Healthcare M&A Update – September 2024 🚨 The healthcare sector remains active with significant merger and acquisition activity in Q2 2024. The median deal value stood at $50M, with strategic buyers driving 93% of transactions. Below are some notable M&A deals announced publicly this year: 💊 ANI Pharmaceuticals acquired Alimera Sciences for $400M in June. 💉 GSK completed its acquisition of Elsie Biotechnologies for $50M in the same month. 🏥 Nordson Medical Corporation secured Atrion Corporation for $815M in May. 🧬 Novartis AG expanded its oncology portfolio by acquiring Mariana Oncology for $1.8B in May. 🌍 Johnson & Johnson made headlines with its $13.9B acquisition of Shockwave Medical in April. The healthcare M&A space shows no signs of slowing down. Stay tuned for more updates as we move through the rest of 2024! #HealthcareMergers #MergersAndAcquisitions #HealthcareM&A #StrategicDeals #BusinessGrowth #PharmaAcquisitions #HealthcareInnovation #IndustryUpdates #CorporateStrategy #FinancialTrends #MedTech #BiotechAcquisitions

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The past decade has seen the share of doctors in private practice plummet. My contrarian view is that the next decade will look very different as multiple technological and regulatory tailwinds will assist in bucking that trend. Given the negative implications of consolidation to patient care and costs, it's imperative that we support these practices vs. the outsized power of large incumbents. If you're building in the space and helping doctors focus on quality over all else, please reach out. https://lnkd.in/gMB5JYqD

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Across the #PrivateEquity industry, the total number of buyout-backed exits is essentially tracking flat on an annualized basis while exit value is trending to finish at $361 billion, a 17% increase from the 2023 total. Although that’s certainly a move in the right direction, 2024 is still shaping up to be the second-worst year for exit value since 2016. To gain a more comprehensive understanding of the landscape, take a deep dive into our full analysis available here: https://atbain.co/4ed5P7y

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Biotech Deals 9/20/2024 - 9/27/2024 New Funds ARCH Venture Partners: Led by Bob Nelsen, ARCH secured over $3B for its 13th fund, focusing on bold investments in next-gen biotech, including AI-driven ventures like Xaira Therapeutics, which raised $1B. ARCH continues to invest in areas like AI, mental health, and precision medicine despite a challenging funding environment YK Bioventures: Led by Gary Yeung and Mitchell Kossar, YK Bioventures is raising $100M, as per an SEC filing, to invest in biotech startups in fields like epigenetics, synthetic biology, and regenerative medicine. Private Markets Asabys Partners: The Barcelona-based Asabys Partners closed its second health innovation fund at $200M, exceeding its initial €150M target. For the first time, it attracted US-based limited partners. The fund will focus on biotech startups in Europe, particularly in oncology and neuroscience, targeting up to 15 startups in Series A rounds Private Markets Flagship Pioneering: Flagship launched Mirai Bio with a $50M investment to develop lipid nanoparticles that deliver genetic medicines to any tissue or cell type. Mirai will focus on partnerships to optimize delivery systems and genetic cargo, while utilizing AI to enhance delivery and medicine design Genespire: The Milan-based biotech Genespire raised $52M in a Series B to advance its gene therapy for methylmalonic acidemia. Led by new CEO Karen Aiach-Pignet, formerly of Lysogene, Genespire plans to use lentiviral vectors for the treatment, aiming for Phase 1/2 trials. The round was led by Sofinnova Partners Constructive Bio: UK-based Constructive Bio raised $58M in a Series A round led by Ahren Innovation Capital, OMX Ventures, and Paladin Capital Group, with support from Fine Structure Ventures, +ND Capital, and Jonathan Milner. The funds will support its cell engineering platform for producing molecules Vicebio: Former GSK vaccine R&D head Emmanuel Hanon secured $100M for Vicebio, a London-based biotech developing respiratory vaccines using "molecular clamp" technology. The funding will support trials for two vaccines: VXB-241and VXB-251. Backers include TCGX, Goldman Sachs Alternatives, Avoro Capital, Medicxi, and venBio Cercle: Health data startup Cercle raised $6M in a seed round led by Outsiders Fund, with backing from FemHealth Ventures and CG Health Ventures. Cercle uses AI to organize anonymized health data into graphs for easier analysis by researchers and clinicians, starting with fertility data and planning expansion into women’s health, such as menopause and gynecology GC Therapeutics: Backed by $75M in funding, including a $65M Series A led by Cormorant Asset Management, LP Asset Management and a $10M seed round from a16z Bio + Health, GC Therapeutics aims to streamline cell therapy production. Using research from George Church’s lab, the company simplifies transforming stem cells into functional human cells in just four days. Follow Liam Killingstad for more biotech deals!

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Crystal ball This is a bit unfair - I know- but the FT was wrong on the no chance for drug pricing moving forward in the IRA. (Pharma investors should brace for pricing and antitrust action https://on.ft.com/3fUuJN4) I think we who have worked on the hill and passed bills know, it’s not the margin but the will. Typically that means you add or delete problematic provisions or the House bows to the usually more moderate Senate. I get it- I wrote my friends a month or two prior to ACA passage about why were they bothering to work away on it (clearly a boneheaded move, forgetting my own “always darkest before the dawn” self saying) I like though the sayings in the cited FT piece and their last point that it’s not business as usual. “The temptation for pharma to maintain the status quo that has served the industry well for the past two decades would be a profound mistake. Another law of physics states that “pressure in a closed system is transmitted equally throughout”. For drug pricing, the political pressure has reached an all-time high.” While watching the FTC work is like watching paint dry you can see the companies respond like GSK delisting patents last November. More to come…it’s clear the secondary patents issue carries a lot of money for the companies on their blockbusters. I was inspired to do this post by the attached graphic posted by my old boss Murray N. Ross, PhD

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A series for those interested in listening to transformational healthcare

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Join us tomorrow for a panel discussion on the complex relationship many FirstGens have to money and how that affects founders, investors, operators and others. See you tomorrow! https://lu.ma/9rixyzgs

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TL;DR: Solving a fundamental point of friction in US health care: affordability The LEAD team is excited to back The WiTT Group and Rahul Mahadevan in their latest financing round led by Sopris Capital to expand their impact efforts of distributing non-clinical support to patients more efficiently! "Financial toxicity for patients undergoing treatment in the U.S. healthcare system is a critical issue that needs urgent attention. What excites us about backing WiTT is its platform's unique ability to align incentives across key stakeholders and support patients in need in the community. It efficiently delivers financial and non-financial assistance to patients, driving improved treatment compliance for healthcare providers. We're excited to support their commercial expansion as they grow the most valuable, proprietary patient dataset focused on self-reported social determinants of health." CC: Thomas H. Rudy Kaiwen Liu Matthew Foran Sopris Capital Taylor Paul Abinav Sankar Charlie Regis Kendel Fiorentino

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Deal activity remains lethargic as of September 2024 as it continues to be impacted by high capital costs and regulatory scrutiny. However, sectors like pharma services are showing growth, and projections suggest a rebound in 2025. Looking for more on the latest trends and transaction activity across the industry?

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#PrivateEquity momentum has slowed down this year, with buyout deal count tracking down 4% globally compared to 2023. Although global deal value is projected to reach $521 billion, an 18% increase over 2023, this increase is due to a higher average deal size, not more deals. To find out more, check out our midyear update: https://atbain.co/4eaOmN7

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M13 is thrilled to lead the Series A in RadiantGraph which is focused on personalization in healthcare. As we continue to invest in early stage companies it is abundantly clear that the biggest indicator of success is the founder and his or her ability to execute on their vision of the future. In this case, I don't think I have seen much better founder-market fit than we have with founder and CEO Anmol Madan. We believe in his vision: in order to have the best patient outcomes in healthcare we need increased personalization and AI is the breakthrough to get us there. Anmol started one of the pioneering digital health companies Ginger and then was Chief Data Scientist at Livongo and Teledoc. He has done it all: early stage, late stage, public company. And he deeply understands the nuances of the healthcare market from all angles which is critical for success. While there are many players building healthcare-specific AI capabilities, RadiantGraph is focused on outcomes: The platform is already processing personalization models for more than 3.5 million people, despite launching just last year. Excited to partner with my friend Adam D'Augelli and the great True Ventures again and Morgan Blumberg who has been deep in the healthcare market with me for many years. More on our thesis in the blog below. https://lnkd.in/evDDmC3W

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The (Healthcare) Ground Beneath Our Feet… This year it is likely that over $10 billion will be invested in the digital health sector – a robust amount, no doubt, but inconsequential when compared to the amount of capital tied up in healthcare real estate assets, which is estimated to be $1.2 trillion by Jones Lang Lasalle. Of that amount, approximately $790 billion is in the hospital sector while the remaining $490 billion is in medical office assets. It is estimated that there are 48.6k facilities with 3.4 billion square feet of healthcare real estate, 42% of which are owned by REITs and another 33% held by other private investment vehicles. Much of the digital health investment is meant to make the physical healthcare infrastructure more productive: greater operating efficiencies, greater patient throughput, more relevant personalized care models with better outcomes. As the healthcare system is being pushed to be more distributed to lower cost sites of care, accelerated now by the rapid proliferation of automation and AI capabilities, the potential impact on healthcare infrastructure assets will be profound. Thoughts on what that might look like... https://lnkd.in/eTfAdUbS #digitalhealth Flare Capital Partners

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The obesity crisis in the U.S. has become unsustainable. We are broken, and we have to change... The prevalence of obesity in adults has grown from 14.5% in 1975 to 41.9% in 2020, and childhood obesity has more than TRIPPLED since the 1970s. The total annual cost of obesity is at a staggering $1.4 trillion. Treatment options range but the emergence of GLP-1's has taken on a national debate. It is our view at 7wireVentures that the growing obesity crisis requires innovative and personalized solutions and digital health companies are rising to meet this challenge. Our team took a deep dive into the market landscape and came up with key predictions on how the market will evolve. ✨ PREDICTION 1: The emergence of high-cost anti-obesity medications and their growing consumer demand will push employers and payers to seek increasingly creative plan design structures that tackle weight management as a discrete disease category.​ 💉 PREDICTION 2: Greater emphasis will be placed on proactive identification and management of patients with an obesity diagnosis 🔬 PREDICTION 3: Key differentiators of successful solutions will include long-term engagement and the ability to address multiple chronic conditions. 🤝 Innovative companies such as 9amHealth, Parsley Health, Transcarent, Everly Health, Foodsmart, Livongo, Season Health, Iron Health, Cylinder, and more. See our full analysis and perspectives on enabling positive change in weight management. 👇 #digitalhealth #obesity #GLP1 #disease #healthcare https://lnkd.in/gUCttSZj

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