Health Care Equity Capital Markets Review

The Piper Jaffray Health Care Equity Capital Markets Review is published quarterly for companies and financial sponsors interested in monitoring the industry. Subscribe  |  Unsubscribe

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First Quarter 2010
The equity capital markets continued to see accelerated offering activity in the first quarter of 2010 as the broader market indexes maintained their strong performance. Although a brief pullback in the middle of the quarter tempered some early investor enthusiasm for new offerings, Q1 finished with healthy levels of issuance activity. The amount of capital raised declined from the previous three quarters, however, offering activity has largely shifted from issuers seeking distressed capital to issuers looking to raise growth capital. Investors seeking new opportunities to deploy capital drove activity in the growth sectors and helped to establish a renewed confidence in the equity markets. The IPO backlog continues to expand as year-end audits are completed and issuers look to take advantage of a receptive investor community. Improvements in the macroeconomic environment are expected to help maintain positive momentum in Q2.