An investment manager named for its knack for adapting to shifting market conditions, has raised $53.5 million for a hedge fund, according to an amended Form D filed with the U.S. Securities and Exchange Commission. Iguana Healthcare Partners takes long and short bets in publicly traded healthcare companies.
Although the healthcare sector seemed ready to settle down following the U.S. Supreme Court decision on the Affordable Care Act, which recently passed its one year anniversary, there’s still plenty of uncertainty to go around. That could mean big returns for shrewd investors.
Some of that uncertainty of late was caused by the Obama administration’s move last week to delay implementation of the employer mandate portion of the Accountable Care Act by one year until 2015. That in turn has prompted some to wonder if the fines against individuals who fail to purchase health insurance.
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New York City-based Iguana Healthcare Partners invests in pharmaceuticals, biotechnology, medical devices, diagnostics, healthcare services and healthcare IT companies, according to the fund’s website. “We will focus on innovation and pharmaco-economics as a driver of sales and earnings growth.”
Apart from ACA, hedge funds find plenty of interest in life science companies because there’s so much uncertainty as to whether a drug or medical device will get approved by the FDA and how long that will take. There’s also been a lot of initial public offering activity, due to the warmer reception biotechnology and medical device companies seem to be getting from investors.
Among some of the other hedge funds investing in healthcare and life science companies are Third Point Capital and Synaptic Capital.
