HBM Healthcare Investments

SIX: HBMN

Market Cap€1,650m

Last Close €237

HBM Healthcare Investments (formerly HBM BioVentures, renamed in 2012) is a Swiss investment company that aims to generate long-term capital gains by investment in private and public companies in the human medicine, biotech, medtech and diagnostic sectors, and related areas. It invests worldwide, predominantly in later-stage private companies (either directly or through funds) and publicly listed holdings, many of which began as private equity investments.

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Investment summary

HBM Healthcare Investments (HBMN) posted its first NAV loss in a decade for FY22 (ended 31 March), but, as shown in the chart below, its long-term performance record remains very impressive. The recent fall in the share price from a premium to a discount to NAV (10.0% at 20 May) could present an opportunity for long-term investors who, like HBMN’s management team, remain convinced of the long-term opportunities afforded by careful investment in the healthcare and biotechnology space. HBMN is unusual among its peers in offering a portfolio made up of private companies, listed equities and funds, broadly spread by geography and clinical focus, with a high distribution policy (current yield of 3.8%).

Content on HBM Healthcare Investments
HBM Healthcare Investments – Looking ahead to renewed opportunities
Investment companies | research Review | 25 May 2022
Healthcare business concept, Medical examination and growth graph data of business on tablet with doctor's health report clipboard on background.
HBM Healthcare Investments – A stellar year to mark 20th anniversary
Investment companies | research Review | 3 June 2021
Healthcare business concept, Medical examination and growth graph data of business on tablet with doctor's health report clipboard on background.
HBM Healthcare Investments – Top 10 holding Viela Bio to be taken out for $3bn
Investment companies | research Flash note | 4 February 2021
Healthcare business concept, Medical examination and growth graph data of business on tablet with doctor's health report clipboard on background.
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Share price graph
Price performance
%
1m
3m
12m
Actual 5.3 (10.6) (32.9)
Relative* 2.4 (12.0) (25.9)
52-week high/low €349.5/€212.5
*% relative to local index
Key management
Andreas Wicki CEO
Erwin Troxler CFO