U.S. per capita health care spending for people aged 65+ is nearly triple that for people 19 to 64.*
A baby boomer will turn 65 an average of every 9 seconds in the U.S. until the year 2030.**
U.S. annual health care spending is approaching 20% of GDP.*
Previous slide
Next slide
At First Light Asset Management, we think it’s an exciting time to invest in health care. With baby boomers experiencing or approaching peak years of health care expenditures and dynamic innovation creating new markets, the growth in health care spending should continue to meaningfully escalate. First Light was founded with the sole objective of identifying and investing in companies we believe will benefit from this environment. Companies with disruptive and innovative solutions that generally offer a sense of promise for better health care at better costs — companies we anticipate will lead us toward the dawn of a “new day” in health care.

Why Invest in Health Care?

  • Favorable Demographics = Increased Health Care Spending
  • Health Care Spending Projected to Grow Faster Than Economy
  • Lower Cyclicality of Spending = Defensive Characteristics
  • Low Correlation = High Diversification Across Subsectors
  • Smaller-Cap Companies Historically Attractive M&A Targets
  • Sizable Component of Growth-Oriented Stock Market Indices

  • Reducing Overall Cost of Care
  • Solutions Enabling Alternative Sites of Care
  • Personalized Medicine
  • Sector Dynamics Driving Increased M&A
  • Aging Population = Increased Demand for Medicine
  • Increasing Breadth/Depth of Industry & Government-Funded R&D

First Light Portfolio Themes

Scroll to Top