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.*
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At First Light Asset Management, we think it’s an exciting time to invest in health care. With baby boomers 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 Growing Faster Than Economy
Lower Cyclicality of Spending = Defensive Characteristics
Low Correlation = High Diversification Across Subsectors
Small-Caps 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