viernes, 12 de abril de 2019

Are health care's buzziest unicorns overvalued?

The Readout
Damian Garde

Are health care's buzziest unicorns overvalued?

SCREEN CAPTURE FROM THE "2019 HEALTHCARE PROGNOSIS" REPORT (VENROCK)
Some people in the industry think so, according to a new report from Venrock. The Silicon Valley venture firm surveyed people working in health tech and other areas of health care; more than 250 of them responded. Those who filled out the survey were told of PitchBook's recent valuation estimates of several of health care's buzziest private companies worth over $1 billion. Asked whether those estimates line up with their actual "market potential," many respondents answered with skepticism.

Genetic testing company 23andMe fared the best of the batch, with nearly half of respondents saying the company's estimated valuation was in line with reality. Butterfly Network, a startup working on a portable ultrasound, didn't fare as well, with only 6% of respondents deeming it to be worth its estimated $1.25 billion valuation. And who knows how to assess perceptions of the ambitious Google spinout Verily, which has yet to be attached to a valuation estimate. (And for folks keeping score at home, Verily isn't technically a unicorn because its parent company, Alphabet, is publicly traded.)

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