Rich Blann

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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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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The biotech sector is evolving rapidly, making resilience more critical than ever. I’m pleased to share our team's report, which highlights this dynamic shift. It’s inspiring to see how the biotech industry leverages its intrinsic innovative mindset to explore new avenues for fundraising, IPOs, and collaborations. Cindy (Xin) XiongLuna Ji Paul Lu Donnie McGrathBruce BoothRicky SunSrini AkkarajuJeffrey TongAnna FanNandita ShangariLianshan ZhangMichael Yu Our latest report, "Thriving Amid Capital Winter: How Biotech Companies Leverage Creative Strategies for Growth & Successful Exits," highlights innovative strategies from leading companies, including Gracell Biotechnologies & AstraZeneca, Novartis & SanReno Therapeutics, @Gyre Therapeutics & @Catalyst Biosciences, Bayside Lakeshore Bio & Apollomics, Shanghai Allist Pharmaceuticals Co., Ltd & ArriVent Biopharma, Hengrui Pharma Co.,Ltd & Hercules, @KeyMed Bio & Belenos, Genor & TRC 20024, EpimAb Biotherapeutics, Inc. & Vignette Bio, Bayer, RTW Investments, LP & CORXEL Pharmaceuticals, Sanofi & Innovent Biologics, and CBC Group & Paratek Pharmaceuticals, Forsite Capital, RTW Investments, LP From M&A strategies and the NewCo model to royalty-based financing and strategic collaborations, learn how these companies are navigating market challenges, driving innovation, and securing growth opportunities. 💡 Discover actionable insights to position your biotech business for success in today’s capital-constrained environment. Access full Report: 🔗 https://lnkd.in/dEdb3Pwd Let’s navigate this capital winter together and build a stronger, more sustainable biotech future. hashtag #biotech hashtag #capitalmarkets hashtag #growthstrategies hashtag #innovation hashtag #MSQVentures hashtag #NewReport hashtag #biotechindustry

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I recently had the pleasure of speaking with and learning from several software execs from our portfolio companies and industry experts during Thoma Bravo's AI Summit in Miami. It was great to share our insights into trends and practices we see in our portfolio and how we manage opportunities and risks. At TB, we have a long history of guiding enterprise software companies through digital transformation, and we’re already navigating the transition driven by generative AI. Our focus is on managing this new innovation by absorbing the technology to bring meaningful benefits to our portfolio companies and indirectly to their customers. And it’s evolving fast! We see our portfolio companies today using gen AI in generally three ways: first, to create new products and provide customers with incremental use cases. Second, to defend against cyber attacks that have become much more sophisticated by bad actors. And third, as an enabler of talent to make business operations run more efficient and productive. In our view, AI presents a significant growth opportunity, but we also believe that to really maximize that potential, companies should carefully evaluate the risks and be thoughtful about governance, trust, security and data privacy. AI is poised to accelerate innovation and it’s hard to predict the full, transformative potential of AI, but we are confident that some of the advantages of incumbent knowledge and data will be key to unlocking its value.

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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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Read our latest article on Creating an Ownership Culture. This piece dives into how fostering a sense of ownership among employees can lead to remarkable outcomes for both the team and the organization. Here at KKR we are committed to providing ownership to all employees in all new controlled deals, building on recent successes of our Broad-Based Ownership Program. Whether you're a leader seeking to enhance your company's culture or an employee interested in the dynamics of workplace engagement, this article offers valuable perspectives. 👉 Read article here: https://lnkd.in/ejVc2ffd You can download the full report here: https://lnkd.in/ee_vT2rs #Leadership #BusinessCulture #EmployeeEngagement #KKR

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Excited to share Isaac Ullatil, recent thought piece on the HCIT sector including: 1) key trends; 2) market insights; and 3) factors highlighting the long-term investment potential of the HCIT sector. Read article below >

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Yesterday, a sobering The New York Times article detailed a report from the Commission on the National Defense Strategy, stating: “The threats the United States faces are the most serious and most challenging the nation has encountered since 1945 and include the potential for near-term major war.” The budgetary conflict between defense and healthcare spending is reaching a breaking point. It’s time for the healthcare industry to do the right thing, because we no longer have an alternative. On the bright side, I believe there is a future healthcare delivery system in the U.S. that will allow us to deliver better healthcare at more reasonable prices and in ways that our citizenry will appreciate and find to be positive and functional. Read my take here: Caduceus Capital Partners, LLC

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TL;DR - 1) Mario & team at Oscar are testing (and writing about) LLMs in real-world healthcare applications and their blog is a good read for the AI-curious. 2) o1, even in preview format, is a must-try to address complex problems where 4o might not have delivered consistent results. Hopefully folks are starting to set up AI-sandboxes with test data and tinkering!

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I had the honor of moderating a panel of three hospital Presidents/CEOs at Laudio's inaugural Leadership Innovation Exchange (LINE) conference. We discussed “Future-Proofing Health Systems” and what is required for the next generation of hospital leadership to effectively manage the healthcare workforce. We didn’t have a crystal ball, but we had the next best thing -- insights from these three impressive leaders. Quick takes: 💡 Mark Slyter, DSc, FACHE of Dignity Health: High reliability organizations are the way of the future. When implemented correctly, retention is the output and not the goal. 💡 Bill Santulli, FACHE formerly of Advocate Health: When looking for his successors, he looked for leaders who are effective at change management…it’s ultimately all about culture. 💡 Joseph Mitchell of Franciscan Children’s: It took a strong arsenal of leaders who were resilient to complete the integration with Boston Children’s and ultimately to bring attrition down from 35% to 18%. Heard throughout the day were these fascinating tidbits from C-level leaders on what is improving their workforce culture and satisfaction: 🐕 Geisinger: ‘Paws to Reflect’ program that brought in dogs for healthcare workforce, not for patients 🤖 El Camino: Robots for patient wayfinding – an idea that stemmed from their nurses when they saw the robots delivering specimen 💻 Stanford: Being discerning about not automating processes that are terrible, but only the ones that are deserving Hats off to the Russ Richmond, CJ Floros, Emma Smith, Ashley N. and the whole Laudio team on this fantastic LINE-up!

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Biopharma's "mud-and-stick" season rolls on... From last week but worth noting Symbiotic Capital's new debt fund. This new vehicle from Arie Belldegrun's Bellco Capital is meant to provide debt to later-stage pharma. While these announcements never come on day 1 of a fund, what was truly astounding was that its already 40-50% deployed (!!!). https://lnkd.in/g7ehYBNR There's a lot of pain out there across the industry for a debt facility to be deployed that fast. You're seeing companies across the board hunker down, cut every program but their lead, and just focus on that, waiting (often times) for clinical readouts. Single assets are the new "platform". Which is why biopharma is in "mud and stick" season (my northeast friends will know what this is). Its not winter, but its definitely not spring. What are you seeing? Let me know! #pharma #investing #biotech

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Our partner Eddie Eltoukhy has identified these opportunities in Biotech. Eddie has a PhD in bioengineering from Massachusetts Institute of Technology and over a decade experience as an operator. Reach out to him if you are working on these areas of biotech. Pear VC - Technology-Driven Therapeutic Platforms Companies developing therapeutic assets with a core product engine Proprietary tool, workflow, or samples leading to novel biological data sets Preference for omics platforms or high throughput screening / engineering workflows First-in-class or best-in-class drugs - Next-Generation Therapeutic Modalities Technologies to improve the efficacy, safety, access, or reach of next-gen modalities including the following: Genomic medicines (gene tx & gene editing) Cell therapies Targeted protein degraders Antibody-drug conjugates Radiopharma - Precision Medicine New technologies supporting the discovery of novel biomarkers and the generation of proprietary data sets for applications in: Disease screening Therapy selection Recurrence monitoring - Life Sciences + AI Software Platforms Software & AI-driven platforms to improve all aspects of life sciences R&D, including: Target discovery and validation Drug design and optimization Manufacturing Regulatory Clinical development

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Rock Health has unveiled insights from a recent survey focusing on U.S. adults managing their weight. The industry has witnessed substantial advancements in the last 5 years, with the emergence of GLP-1's new opportunities have surfaced for brands and companies to offer enhanced support services and products to consumers. What is an innovative product or service you have seen that is providing value to consumers on their weight management journey? #Healthcare #WeightManagement #Healthandwellness

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The infusion services sector remains one of the most active and highly valued areas of the healthcare services continuum. This momentum has only gained steam due to the landmark transactions that have transpired this year, including two significant private equity-backed exits. First was Peak Rock Capital’s sale of Paragon Healthcare to Elevance Health and second was Boyne Capital’s sale of Infusion Associates to InTandem Capital-backed, Vivo Infusion. Like all industry participants, what the operators and investors of these companies are seeing is the growing need for infusion services outside of the hospital setting and the opportunity for accretive growth both organically and through acquisitions. Provident estimates the infusion services market to have a current value of $120B, with a care setting distribution as follows: -         Hospital – 55% -         Physician Office Infusion Center (OIC) – 30% -         Home – 10% -         Ambulatory Infusion Center (AIC) – 5% Provident’s infusion services coverage team is excited to release its Fall ‘24 comprehensive overview deck on the infusion market, which includes key statistics, emerging trends, competitive landscapes, regulatory considerations, and valuation drivers. You can access a preview of the presentation below. To access the full presentation, please reach out to me at [email protected]

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Regulators think they are doing good. The outcome, however, is generally the opposite of the intent. The 3.48 hours per resident day staffing rule has just been finalized for nursing homes. This will have the effect of shutting down single-entity non-profits captained by local or religiously affiliated boards who do not have the resources and also rural communities (who will use the exemption until it burns off). As such, there will be less supply of care while the demand for it is only increasing which will probably put a higher burden on emergency care sourced at acute care hospitals. https://lnkd.in/eA5TxQDU

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Series A or B wondering when to bring in a VP of Finance or CFO? It’s a crucial decision that can shape the future of your company. At this stage, financial leadership is not just about managing numbers but also scaling processes, securing funding, and driving strategic growth. My colleague Paul breaks down key signs that it’s time to hire and indicators for choosing between VP of Finance and a CFO #FinanceLeadership #CFO #StartupGrowth #SeriesA #SeriesB #NextGenLeadership

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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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