Afternoon update from J.P. Morgan healthcare conference

January 12, 2010 – 4:25 pm by Steven Niles

Kevin Butler of Heritage Partners International has reported in with his Tuesday afternoon update from J.P. Morgan’s 28th Annual Healthcare Conference in San Francisco.

In his previous update, Mr. Butler reported good spirits among the attendees. However, there seems to be an East Coast/West Coast divide.

“The West Coast people seem much less upbeat while the East Coast is acting more positive,” Mr. Butler says. “One East Coaster called the attitude ‘cautiously optimistic’ while a few Westerners said things are slow. My bet is that the advantage of having big companies out East is an edge that will be exploited.”

Meanwhile, the Midwest companies seem strongest of all. Mr. Butler speculates that it’s their conservative style playing to their advantage.

Additionally, Mr. Butler has seen signs of hiring among companies such as Cardinal Health, Covidien, and even some smaller players. “It’s not a lot, but it’s like Spring with the first sign of good weather returning after winter,” he says.

Mr. Butler has spoken with a few deal makers who admitted they have had one of their best years in 2009. “That means deals were done,” Mr. Butler reports. “These weren’t ‘junk’ deals either, and they confided they are still busy.”

Tags: deal making, healthcare conference, Heritage Partners, J.P. Morgan