We recently attended the 41st J.P. Morgan Healthcare Conference in San Francisco, which took place from January 9th to January 12th 2023. Our overall conclusion from the conference is that the industry remains in good shape. The key themes that emerged during the week from a devices and services perspective were, the rise of value-based care and innovation & digitalisation. However, it also became clear that the macroeconomic environment is still the dominant force behind (sub) sector performance.
The investment year 2022 was not only eventful but for many also painful. While still negative, in the end,
Healthcare outperformed the market by 12.7% (MSCI World Healthcare NT vs. MSCI World NT), once again showing its resilience. To get a better understanding of 2023, healthcare executives, investors and other stakeholder groups again travelled west and made San Francisco the centre of attention of the industry, at least for a week. Pre pandemic this conference used to be extremely crowded, to the extent that sometimes it was impossible to pass through the hallways. With organisational adjustments it was slightly less full but still very well attended. The conference continues to serve as a platform for previewing full year results, meeting competitors, and occasionally announcing M&A transactions and strategy updates. Click on the link below, and find out about our key conference takeaways.
Rarely are health inequalities more apparent than when walking around San Francisco during the J.P. Morgan Healthcare Conference. In our chart of the month, Raphael Oesch (Portfolio Manager), takes a look at the statistics and discusses some of the reasons behind the figures.
Day after day currently feels like a roller coaster ride, going up because of better than hoped for CPI numbers, down because of looming recession fears, and back up because of a less hawkish FED speech. Are we there yet? What do you think?
40.97% - that's how much the HC market has returned since November 2019 until end of November 2022. It certainly has not been a straight line. Join our Kieger Healthcare specialists Urban Fritsche and Raphael Oesch as they look back at the last three healthcare investment years and discuss two current challenges and corresponding opportunities.