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Clear the date November 16 on your calendar!
CLICK HERE now to register before it's too late!
For Middle-Market Private Equity
& Mezzanine Investors & Lenders
Private Equity Investing
In Healthcare Services
& Healthcare IT Companies
Attendance Is Limited!
CLICK HERE to Register Now
Michael P. Gaffney, Managing Director
Featuring 20 Expert Speakers Including --
Wednesday, November 16, 2011
8:00 am – 5:00 pm
Designed to Meet the Needs of GPs, LPs, & Managers of Buyout, Growth Equity, Mezzanine, & Lending Funds, as Well as Independent Sponsors, Operating Partners, Portfolio Company Managers, and the Bankers, Lawyers, Accountants,
& Other Advisors Who Support Them
With healthcare practitioners migrating to electronic medical records and electronic billing as mandated by the HITECH ACT (Health Information Technology for Economic and Clinical Health Act), healthcare companies that provide IT systems to hospitals and physician groups are in the spotlight. Middle-market companies that create efficiencies, improve compliance, and provide business analytics will build valuable franchises.
In addition, consolidation is also creating opportunity in the electronic health record space as providers with similar products are being merged to create larger scale and greater capabilities.
Opportunities are equally rife in healthcare services -- change creating opportunity and risk.
Promising areas include building businesses in and around hospitals, including hospital-based specialists, other physician services, or acquiring not-for-profit health systems and turning them into for-profit systems, and capitalizing on an aging population through hospice or cancer care sectors.
Healthcare reform and the debt crisis shifted areas of interest for healthcare investing by PE firms -- but interest and activity haven’t slowed a bit.
Differentiating the hot from the dangerous is the whole idea of The Capital
Roundtable’s encore conference on Wednesday, November 16, in New York.
Whether your goal for 2012 is to find interesting and rewarding investments… to
grow your healthcare portfolio companies in a time of change… or both… you will
want to plan now to join us for --
Private Equity Investing
In Healthcare Services & Healthcare IT Companies --
Plus when you sign up now for this conference, you can write out your check for
$400 less thanks to our generous Early Bird Discount!
From a fundamental perspective, the healthcare industry offers significant -- and growing -- demand. While it’s a complex market, it carries a great deal of opportunity for investors who are thoughtful about the space and focused on the pressures to lower price per unit and manage utilization.
The healthcare industry historically invested a lower percentage of revenue into information technology than any other domestic industry segment -- historically only 1.5%. Even basic manufacturing is 2%, and other industries are at least double that, with financial services and insurance at the top of the scale. Consider that the majority of the industry still does much of its business by fax, and you can instantly see the potential for providers to adopt 21st century operations. Healthcare playing catchup along with Federal government incentives like HITECH create significant tailwinds for companies with the right value proposition and strategy.
For middle-market investors, the IT side of healthcare has attractive businesses all about increasing the value to the customer. The most successful models are those that can take costs out of operations, improve clinical information and outcomes, and satisfy continuing demands for government-compliant reporting. Most facilities want to share records among the operating rooms, the emergency rooms, the intensive care units, and need middleware connections that facilitate this need.
Large hospitals and medical centers can be tough customers to sell to. So many middle-market PE firms focus instead on microbusinesses -- hospitals tend to have many small business units, each with their own value proposition. Many of these business units are driven to have the newest equipment and latest platforms, which can make it easy for investors to get traction.
The services side of healthcare includes outsourcing businesses to help providers reduce costs and direct service providers. There are many provisions in upcoming healthcare legislation that will be implemented one way or another, and have important clinical impact, so companies can’t expect success by sticking to their old models.
Some of the more interesting trends in healthcare tend to be located outside of the hospital rather than inside. These include companies that assist providers who serve patients with sub-acute conditions in remote locations. Teleradiology, where services can be rendered 24 hours through real-time links to providers on the opposite side of the globe. And robotic surgery, progressing to where surgeons can be seated at consoles not just across the operating room, but across the world.
Although there is a good deal of innovation today on mobile delivery of healthcare, it is still at the venture capital stage without much private equity activity. There is yet to be a compelling need revealed for consumers, and few are willing to pay for the service. The bottom line is that there’s been 25 years of underinvestment in this area, and catching up is likely to be a decade‑long endeavor.
As expected, recent deal activity has been robust, with such representative transactions as Sterling Partners’ tuck-in acquisition of healthcare document manager Med Resolutions. Marlin Equity Partners’ tuck-in acquisition of Advanced Health Management Services. Waud Capital Partners’ acquisition of outsourced receivables company Revenue Cycle Solutions. And Halyard Capital’s growth investment in software-as-a-service company Practice Insight.
To serve as chair of this encore conference on Wednesday, November 16, in New
York, we’re delighted to welcome Mike Gaffney, Co-Founder and Managing Director
of EDG Partners in New York.
Mike has more than a decade of private equity healthcare experience. He is currently
the chairman of Gemino Healthcare Finance LLC and sits on the board of HealthPro.
Before co‑founding EDG, he was a partner at Allied Capital, where he led the firm’s
healthcare investment. Prior to joining Allied, Mike was a consultant at McKinsey & Co.
and a U.S. Navy Submarine Officer.
Mike previously served as director and as an executive of a number of healthcare
companies with a focus on services and outsourced services. He received an MA and
BA from Oxford University, where he was a Rhodes Scholar, and a BS from the U.S.
Naval Academy, where he currently serves on the A&S Board of Trustees.
20 World-Class Specialists Bring You Expert Diagnosis
Presenting with Mike will be a team of 20 noted PE healthcare experts, including GPs, portfolio company operating executives, investment bankers, lenders, consultants, and more. In four revealing panel discussions, they will share what they’re doing and seeing and hearing -- and how they are positioning their own firms for 2012.
You’ll discover how not-for-profit systems are being bought and turned into for-profit businesses. Why ambulatory surgery center chains are on investors’ radars. Who is investing into the cancer care and hospice centers. And why many firms are finding significant potential with healthcare investments in overseas markets.
You’ll also hear how to better manage your current healthcare portfolio companies in today’s changing marketplace. And you’ll leave this conference with the last word on how to maximize efficiencies and economy of scale.
Register now to hear answers to the questions on every healthcare investor’s mind --
Benefit From Excellent Networking Opportunities
Conferences from The Capital Roundtable stand apart in their attention to both content and connections. We’ve built ample time into the agenda, including session breaks and an open lunch, where you can meet fellow attendees and featured speakers to build ideas and relationships.
You should attend this conference if you are a --
Remember, register with our Early Bird Discount by October 7, 2011, and you’ll
save $400 off our standard fee! Please make your reservation now so you’re not disappointed. We’ll be looking forward to greeting you.
For more information, please feel free to contact Shaina Mardinly at 212-832-7333 ext. 0 or firstname.lastname@example.org.
This conference is being produced by The Capital Roundtable, America’s leading conference organization focusing on “need-to-know” information for professionals in the middle-market private equity community. For more information about The Capital Roundtable’s 30 annual MasterClasses and other events and programs, please visit www.capitalroundtable.com.
You can pay by credit card (using the links above) or by check. Mail your check and business card to: New York Business Roundtable Inc., 12 East 44 Street, Penthouse, New York, NY 10017.
If the program is oversubscribed, we will notify you immediately and not charge your credit card. (If you need to cancel, please do so by Wednesday, November 9 at 5:00pm, and we will credit you for a future MasterClass.)
Have a special question? Please contact Shaina Mardinly at 212-832-7333 ext.0 or by email at email@example.com.
The University Club
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