- Dr. Edward “Ned” Swanson has joined Healthtech as CEO, bringing decades of scientific, clinical, industry and capital markets experience, including founding NASDAQ-listed company, to HLTT
- Healthtech in recent months has committed to a portfolio strategy, where it will bring diverse group of healthtech companies forward
- Company acquired precision oncology company Varian Biopharmaceuticals Inc. (“VarianBio”) in May, adding it to their family of companies that already included MediScan and RevHeart
- The biotech portfolio model is hot, with over $5.5 billion in capital raised in the last six years
Historically, biotech companies built value nearly exclusively with a straightforward approach centered on a specific market segment. While that still may be true in many cases, the landscape has shifted with more companies employing a portfolio model that leverages a broader skillset of a management team to oversee a diverse group of businesses. As it advances a groundbreaking imaging technology, HealthTech Solutions (OTC: HLTT) has adopted the model this year to bring healthcare technology forward, including an aggressive acquisitions strategy being spearheaded by newly appointed CEO.
This month, Healthtech recruited Edward “Ned” Swanson, M.D. as chief executive officer (https://ibn.fm/KvQt9). Dr. Swanson, who earned his M.D. from Harvard Medical School and was previously a resident in plastic and reconstructive surgery at The Johns Hopkins University School of Medicine, knows success across multiple verticals. Most recently, he co-founded NASDAQ-listed PolarityTE, a biotech company developing a range of regenerative tissue products and biomaterials, led by its flagship product SkinTE(R). PolarityTE also has subsidiaries formed and acquired offering contract research services, adding to Dr. Swanson’s library of scientific, clinical, industry and capital markets knowledge that is exactly what is needed to provide oversight to Healthtech’s portfolio strategy.
At Healthtech, Dr. Swanson is leading a family of companies that includes MediScan, the developer of a disruptive technology that converts 2D images from a portable ultrasound into 3D, high-definition images with AI/ML interpretation at the point of care; RevHeart, a company focused on R&D of treatments for heart muscle injury; and VarianBio, a precision oncology company Healthtech recently acquired (https://ibn.fm/bm6KD).
VarianBio is developing a proprietary atypical protein kinase C iota (“aPKCi”) inhibitor for the treatment of various tumor types. VarianBio has two pre-clinical assets in development: VAR-101, a topical formulation for basal cell carcinoma (“BCC”), and VAR-102, an oral formulation for an array of solid tumors, including non-small cell lung, pancreatic, and colorectal cancers.
VarianBio is looking to penetrate a precision oncology market forecast to grow from $49.9 billion in 2019 to $99.7 billion in 2027. Becoming a subsidiary of Healthtech where it has unfettered access to the experience of the impressive C-suite and board of directors simply makes good sense and will underscore the logic for additional acquisitions.
In fact, appeal abounds for all parties in this scenario. For investors, exposure to diverse markets increases upside and mitigates risk with multiple shots on goal. For acquisition targets, there is certainly a financial component with access to the public markets, but that, believe it or not, is not usually the primary motivating factor.
The real attraction is leveraging the experience and network of a seasoned management team like Healthtech’s to reach key inflection points. Combining experiences for operational efficiencies and avoidance of pitfalls to meet goals is what drives “good” capital anyway. A parent company like Healthtech isn’t there to micromanage; it is there to assist in making prescient decisions, establish an efficient process and help execute on a business plan.
As noted in a recent McKinsey & Company report, the trend towards the biotech portfolio model has been firmly embraced by investors in the past few years. Relatively quiet from 2010-2014, the industry accelerated from 2015-2020, with more than $5.5 billion in capital raised for biotech portfolio companies (https://ibn.fm/4B2ge). Given all the benefits, it wouldn’t be much of a surprise to see investments in the model continue to pile up, providing companies with more capital for more acquisitions.
For more information, visit the company’s website at www.HealthTechSolutions.com.
NOTE TO INVESTORS: The latest news and updates relating to HLTT are available in the company’s newsroom at https://ibn.fm/HLTT
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