The Great Leveling Out
Sylvia Guerra, a vice president at Bessemer Venture Partners, held a panel discussion to introduce the first 'State of Health Tech report'. She discussed the growth and value of the health tech industry over the past five years and mentioned the three main parts of the report: the performance of the private and public market, learnings and best practices for founders and operators, and emerging investment trends. Guerra and panelists Andrew Adams, Laura Veroneau, and Nick Agrawal, expressed excitement about continuous investment in the health tech industry despite recent declines. They see potential in businesses that address strategic imperatives or major pain points in healthcare, with successful companies leveraging regulatory changes for business innovation. They emphasized the importance of capital efficiency and go-to-market strategies in assessing potential investments. They also pointed out that while valuation multiples have to reflect performance, a company's team, and understanding of the market are as important in evaluating potential success.