B8746-001: Investing in Medical Technologies
M - B Term, 05:45PM to 09:00PM
Instructor: Cliff Cramer; Efrem KamenDownload Syllabus
View course evaluation
This course focuses on the critical factors and approaches that senior managers and sophisticated investors use to identify and value attractive business opportunities and investments in the medical technologies sector. It will provide students with an understanding of the current economic and competitive environment for the development and commercialization of new medical devices, including regulatory, pricing, and reimbursement factors. It will highlight new emerging technologies in the field, and how to assess such novel technologies and build commercial models for valuation purposes. Guest speakers from the medical device industry and investment case studies will be used to provide students with practical insight into this complex sector. Critical issues to be examined include:
• Strategies and process of discovering, developing, and the approval of new medical technologies, including impact of government oversight and regulation;
• Pricing and third-party reimbursement of medical devices;
• Health policy/ legislative matters impacting this sector;
• Keys to evaluating novel medical technologies and analyzing business drivers and future performance of medical device companies (public and private);
• How to build commercial models, including valuation methodologies that successful investors use to value/price companies in this sector;
• Considerations in taking long and short investment positions in this sector.
The course is cross-functional and focuses on “real-world” problems currently facing senior managers and investors in this sector. This course will be useful for students interested in careers in the life science and healthcare services sectors, as well as healthcare consulting, investment banking, VC/PE, and investment management given the large and growing healthcare practices of such firms. Note: Some understanding of/experience in the healthcare/medical technologies sector will be highly valuable.
Evaluation is 25% class participation, 25% mid-term assignment (short paper on questions or case study), and 50% final (individual) paper, plus group presentations.