Final report from the J.P. Morgan conference
January 13, 2010 – 2:47 pm by Steven NilesAs J.P. Morgan’s 28th Annual Healthcare Conference in San Francisco winds down, Kevin Butler of Heritage Partners International checks in with one final report.
Although there is guarded optimism all around, Mr. Butler believes that we can expect any shock to the system to cause major trauma. “Perhaps if ee get through the next several months we will do okay,” he says. “There are a lot of IPO discussions ongoing among some really good-quality companies. If they are priced right, they should perform well and enable other companies to possibly do the same.”
Right now, liquidity remains the No. 1 issue. Poor liquidity is forcing short-term actions that otherwise would not occur, according to Mr. Butler. “We cannot fault that, as firms need to preserve and make difficult decisions even though good companies and technologies will get squeezed out of existence,” he says. “Long term, I would say most believe we come through in good shape but leaner. The industry will employ fewer as fewer companies are started.”
The conference saw quite a bit of offshore presence, and according to Mr. Butler, there seems to be money looking to invest in U.S. technology and expertise. He speculates that this may help fill part of the liquidity void.
“All in all it was a solid, well-attended event and the best harbinger of the current state of the industry,” Mr. Butler reports.
Tags: deal making, healthcare conference, Heritage Partners, J.P. Morgan
