Healthcare Software Comps Tracker

A New 17,000 Credits Initiative

I am fairly agnostic when it comes to industry verticals for venture capital. I believe that there are certain sectors that lend themselves more readily to venture, but they are pretty broad, like Enterprise SaaS, consumer technology, things that run a successful PLG motion, companies with strong network effects, etc. But for the most part, what I really like about venture capital is that there is so much variety in the industry - entrepreneurs are generally very good at using technology to solve problems in all walks of life. I believe basically every industry has been impacted by venture capital in one way or another. As a result, I always have trouble planting a flag in one space or another because I think the next great company could truly come from anywhere.

However, There are a few verticals that I am more interested than others: fintech, cybersecurity, ecommerce, etc. But the one that I find myself constantly pulled in the direction of is Healthcare IT. [Or is it Life Sciences SaaS? Or is it HealthTech? Digital Health? Unlike most verticals in the innovation economy, software for healthcare never seemed to find a name that sticks. So I am just going to refer to it as Healthcare Software, even if that isn’t always technically correct.] In order to answer that call, I am going to spend the rest of the quarter writing about this industry, trying to develop a general thesis around it.

Part of that exercise will be tracking public sector stocks that I think are in this space. You can find those charts below. I am not 100% confident that this list is comprehensive or correct - I am not even 70% confident. But I think it’s a good start. I do feel somewhat cheeky about including McKesson, but dang, that might really be a software company at this point (shoutout CoverMyMeds).

So stick around here for more things Healthcare Software.

P.S. - As my intern said when I was discussing this idea, “oh, a Jamin Ball type Beat”.

Top 10 EV / NTM Revenue Multiples

Top 5 Weekly Share Price Movement

Total Comps List

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