PPM Investing with Geoff Smith and Charles Busch of Harris Williams

On this episode of The Banker's Corner, McGuireWoods' Geoff Cockrell sits down with Geoff Smith, a managing director in and co-head of the Healthcare & Life Sciences Group at Harris Williams, and Charles Busch, a vice president in the Healthcare & Life Sciences Group at Harris Williams. They both have spent much of their careers working specifically in the physician practice management (PPM) and consumer healthcare sectors.

PPM and the consumer healthcare sector are often referred to interchangeably, but they have very different needs and areas of focus in the market. In consumer healthcare, patients play a more prominent role in their choice of providers, leading to a larger overall focus on the consumer experience. PPM, by contrast, is more often driven by referrals. But these distinctions are softening.

“One of the things that we've certainly seen over the last 20 years, which has really accelerated in the last few, is that the lines are blurring between traditional, pure PPM and consumer healthcare,” Geoff Smith explains. “One of the things that we've seen and work with clients to help them think through is exactly how to describe their company, how to describe their positioning, how to think about it from both a patient or a consumer perspective, as well as from a potential investor perspective.”

Geoff and Charles explore the appeal of PPM to investors, who are increasingly drawn to the market’s long-term tailwinds, positive supply and demand dynamics, and reimbursement stability. They also reflect on the current market and what trends they expect to see in the future.

Featured Guests

Name: Geoff Smith

What he does: Geoff is a managing director in and co-head of the Healthcare & Life Sciences Group at Harris Williams, where he has worked broadly across the healthcare landscape and spent a significant portion of his career focused on consumer healthcare and physician practice management.

Organization: Harris Williams

Connect: LinkedIn

Name: Charles Busch

What he does: Charles is a vice president in the Healthcare & Life Sciences Group at Harris Williams, where he spends the majority of his time in physician practice management, with a focus on dermatology and orthopedics.

Organization: Harris Williams

Connect: LinkedIn

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