a) Key Areas of Investor Focus in Healthcare

·         Year to Date (YTD): Bio-Pharma continues to underperform the overall markets with Medical Devices and outperforming. We see this as a compelling setup for Bio-Pharma names with strong pipelines or material disconnects with intrinsic value.  We have also seen material weakness in certain healthcare services names after recent M&A was announced. 

a) Key Areas of Investor Focus in Healthcare

·        Investors are digesting newsflow after 4Q17 earnings results. 

·        Year to Date (YTD):Bio-Pharma continues to underperform the overall markets with Medial Devices and Healthcare Services outperforming. We see this as a compelling setup for Bio-Pharma names with strong pipelines or material disconnects with intrinsic value. 

a) Key Areas of Investor Focus in Healthcare:

·       Investors are digesting newsflow after the JP Morgan Healthcare Conf in early January.

·       Tax Reform: The quantification of tax reform benefits was noted by select companies at the conference and the stocks went up materially. More broadly on tax reform, HC services companies are reform’s biggest beneficiaries, including recent updates from UNH, CVS, ESRX. …