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Has the JP Morgan Healthcare Conference ecosystem gone out of control?
Written by Anne DeGheest // 14 January 2019 // Entrepreneur

For the last 30 years, I have been attending the Healthcare Conference started by Hambrecht and Quist that is now hosted by JP Morgan. Honestly this year I had very mixed feelings about its value!

In the early years private and public companies were being hosted in one centralized hotel, The St Francis in San Francisco, the first working week in January. The ecosystem under one roof of Wall Street banks, analysts, entrepreneurs, corporate CEOs and investors was awesome and we could get a great impression of healthcare trends for the new year in just 4 days, see quality vetted deals... and meet a lot of interesting value-added people!

Bruce Booth from Atlas venture wrote an article in Forbes “The Game Isn't Worth The Candle: Reflections On The JPM Healthcare Conference” that got me to write down my own mixed feelings on how the conference has evolved into a manic series of events:

  • After its acquisition by JP Morgan, the Healthcare conference evolved into focusing mostly on large cap public companies. Most entrepreneurs, venture capitals and early stage players can no longer get an invitation to the conference. This created a vacuum that expanded the event into a ten-block radius around Union Square into competing conferences for the private sector with venture capitalist holding court in their hotel rooms.

  • In 2019, there were so many parallel events like Startup Health, RESI, Biotech show case, Digital MedTech Innovators that it was impossible to have quality meetings... running around Union Square and Market street in the rain to catch a glimpse of each event... doing my 15,000 steps marathon per day!

  • The other disappointment is that the quality of the deals has gone down. Most of the HealthTech/digital health companies pitching on stages had ideas or business models that failed in the past and seemed to have little presentation or business model coaching. Honestly, the overabundance of venture investment in the space, called it a bubble or not, is enabling half-baked companies to present, creating a bad impression that may be hard to recover.  Being one of the few that has built successful HealthTech companies with great exits, my heart hurts to see entrepreneurs spending 4 years of hard work with false promise… with an acqui-hire exit! This has evolved into a numbers game... high volume of presenters... to find a good one! Remember the dot com hype… the most successful outcome was Athena Health that recently sold for $5 billion 20 years later!

  • The hotel industry is taking advantage of the event by quadrupling their hotel room to over $1,000 per day and renting cocktail by the hour... and Lyft and Uber supercharge by 2X more than a normal taxi!

  • The homeless in the street were the worst in the last 30 years: aggressively hustling for money and insulting us otherwise.  SF Citi hall needs to step up and we need better mental health solutions!

  • The parties circuit has evolved into a manic circus with most events being between 6 to 8pm in the evenings... so I had to create a mapped printout to optimize my route! Most networking encounters have evolved from deal related conversations to showing your face in unproductive conversation at noisy parties.

  • Hopefully 2020 will bring back some sanity to the hell week!

 

Anne DeGheest pioneered the HealthTech or Digital Health space as a healthcare executive, an entrepreneur, angel investor, corporate advisor and mentor capitalist.

She is the founder of HealthTech Capital and MedStars venture.

Will economic recession impact digital health startups?
Written by Anne DeGheest // 03 October 2018 // Entrepreneur

Economic recession forces startups to go back to Basics: is there a pain point that is large and important? Can they help fix it? How do they prove it works? Is somebody willing to pay for it? What validation data do you need to convince them? Is the cost of acquisition lower than the Long term customer value?

As an HealthTech pioneer and advisor for the last 30 years (before the digital health hype), economy cycles historically have slowed down the “easy funding money” and get the target customers to ask “show me the Money: value...and cost savings” with longer and more skeptical selling cycle.  Ironically my biggest Billion-dollar exits were from companies that were started and grew during economic downturns ... as they were laser focused on creating/proving value to potential buyers … while being forced to be lean and mean by more skeptical VC who had run to the hill (i.e. later stage funding).

So I welcome an economic downturn to fasten the triage of good value vs hyped companies. There are a lot of big problems to fix in healthcare... so opportunities to build big companies… but we need to go back to the Basics of business building, not fund raising!  

Linkedin discussion and comments

CIMED Israeli Medtech and Healthtech
Written by Anne DeGheest // 05 June 2018 // Entrepreneur, Conferences

Anne DeGheest will be a judge at Cimed on June 19, 2018 in Menlo Park.. come join me to see exciting new medical devices and HealthTech companies coming from Israel. Use code Medstar40 for 40% discount

https://events.bizzabo.com/207491/home

When: June 19, 2018
Where: SRI at 333 Ravenswood in Menlo Park
It's a great opportunity to listen and meet with the most innovative startups in the area of Genomics, Diagnostics, Healthcare for Elderly, Medical Devices, Precision Medicine, Telemedicine, and cyber security and to hear from inspirational speakers. Great fit for investors, providers, payors, IT companies, CISOs, CIOs, CTOs, corporate executives and startups.

Boomer summit June 20-21, 2018
Written by Anne DeGheest // 05 June 2018 // Entrepreneur, Conferences

Anne DeGheest will be on a panel at the Boomer summit in Berkeley on june 20 and 21, 2018.

@HealthTechCap is a proud sponsor of the Silicon Valley @SiliconBoomer Summit 6/20-21.

Use code sv18healthtech20 more at https://lnkd.in/eeJVJmu https://lnkd.in/eMHmrD7

Next Boomer Summit March 27-28, 2018
Written by Anne DeGheest // 17 March 2018 // Entrepreneur, Conferences

I’ll be one of the featured speakers at the What’s Next #Boomer Summit in San Francisco, CA. March 27-28 in San Francisco Use my 20% discount code: WH18FOM

Every dissonance of aging is a market opportunity. And the opportunity is GREAT – a trillion dollar market. This session will present the latest consumer and market trends related to health, wellness and telecare. Panelists will look at cardiac health, hearing, vision, bone density, sleep, weight management, pain management and loss of immunity. They will also explore the six growth areas that consumers are interested in when they consume media related to health. Physical wellness is often more important that financial health.

 Moderator: Anne DeGheest, Managing Director and Founder, HealthTech Capital

Panelists:

Adam Heller, Vice President, Ziegler

Jody Holtzman, Senior Managing Partner, Longevity Venture Advisors LLC

Mary Kay, co-founder, myhealthteams

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