HBM Healthcare Investments (HBMN)

Business description

HBM Healthcare Investments (previously HBM BioVentures, renamed in 2012) aims to generate long-term gains through investment in private and public companies in the human medicine, biotech, medtech and diagnostics sectors, and related areas. It invests worldwide, predominantly in private companies, either directly or through funds, and many of its publicly listed holdings began as private equity investments.

Stock data

Market cap.€1181.3m
Last close€167.80
High / Low (52 weeks)€168.4 / €111.4
Stock market listingSW
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamInvestment Companies
SectorInvestment Companies

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Company news

Investment summary

HBM Healthcare Investments (HBMN) reported profits of CHF72m for the third quarter of its financial year, buoyed by the takeover of long-term holding Advanced Accelerator Applications (AAA). The Switzerland-based fund invests globally in public and private healthcare companies and private equity funds, and is working to build its private company exposure back up towards long-term average levels following a strong period of IPOs and trade sales. The managers take a risk-aware approach to what can be a volatile sector, and have been taking profits on the back of clinical successes, as well as hedging c 20% of the listed equity exposure through a short position in an ETF tracking the NASDAQ Biotechnology index. The discount to NAV has narrowed in line with the general trend for investment companies, but remains wider than those of peers whose sole or main focus is listed equity markets. HBMN’s shares currently yield 4.3%.

Last updated on 14/02/2018

Key management

Andreas Wicki, CEO
Erwin Troxler, CFO

Company address

Bundesplatz 1
P.O. Box 1145
Zug
CH-6301
Switzerland
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