Recent medical device IPOs have fallen in value an average of 14%; but even at their current low valuations, returns to private investors remain healthy. For this reason, it is likely that new IPOs will be priced far closer to the valuations of the last private rounds than they were in the IPOs of 1996-97. This Start-Up analysis also reveals that, contrary to conventional industry wisdom, companies who went public with earlier stage products have generated higher returns to both private and public investors.
by Stephen Levin and Roger Longman
What a difference a year makes—in 1996, two-thirds of the attendees at the annual fall Phoenix conference for medical device...
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