Q: What attracted you to the Advisory Board for L1 Health?
The L1 Health team is extremely experienced and competent. I am struck by their enthusiasm and personal commitment to make this a tremendous success. They have also put together a unique Advisory Board that speaks to the investment philosophy of L1. Everyone has an extremely successful track record in healthcare but brings different skills: Rolf Classon in the diagnostic sector and Bayer, and Pete Wilver, who ran the finances of a major healthcare corporation.
Q: What advantages does L1 Health offer as a source of capital for potential partners?
First, L1’s investment philosophy differs from normal private equity where the goal is a quick exit. L1’s strategy is built on long-term value creation through real organic and inorganic growth, rather than financial structuring. Second, the organisation makes quick decisions because they have very short communication lines between all levels of leadership. Third, there is flexibility. Many private equity funds are very rigid: making only majority or only minority investments, or only working with certain groups. L1 Health can work with anybody who shares the same philosophy.
Q:What are the most important trends and opportunities in healthcare?
The mega trends are the rapidly ageing population in the developed world, a growing middle class that wants better healthcare in the developing world, the enormous potential of data, and most importantly, the revolution in science that is taking place in pharmaceuticals and biotech. These things open up a number of opportunities in three main areas.
First, in the area of pharmaceutical services, because big pharma is increasingly using third parties to execute non-essential tasks. Second, the market for life science tools has opportunities because it is very fragmented and includes big pharma, academic institutions and hospitals. Finally, efforts to use data to bring the right healthcare services to the right patients at the right time will restructure how the delivery of healthcare is organised in the future.