The Birmingham Business Alliance and JPMorgan Chase & Co. have collaborated to offer Birmingham companies, researchers and community leaders programming strategically focused on the intersection of investment banking and the health care industry.
JPMorgan is well-known as a leading bank for the health care industry, and, through the BBA’s work in 2020, the BBA will have a targeted focus on health care and life sciences.
JPMorgan is offering key members of its commercial banking team to provide expert insight into the market, the industry and coming trends in both science and finance and the intersection of the two, leveraging the global bank’s industry-leading expertise in health care and life science to provide strategic insight.
Over 25 attended the inaugural luncheon last month, including scientists, health care CEOs, University of Alabama at Birmingham (UAB) leaders and key community members that specialize in working with entrepreneurs and startups in the health care realm.
Joe Lee, JPMorgan’s executive director focused on life science clients within the Middle Market Banking and Specialized Industries (MMBSI) group, spoke to the group about trends in health care, the outlook for 2020, and partnership opportunities for financing both startups and established health care companies.
Because of a mutual aim of advancing health care in Birmingham, the collaboration seemed natural, said Jon Nugent, vice president of innovation and technology at the BBA, who worked with JPMorgan’s Jessica Payne on the project.
“JPMorgan, through its international investment banking network and solutions, brings a unique and truly global perspective that is valuable to communities everywhere,” Nugent said. “Life science companies in Cambridge, San Francisco and Raleigh/Durham would all benefit from this type of program, and we are fortunate to be partnered with them to have it here.”
JPMorgan has had a presence in Birmingham for almost a decade, said Payne, vice president within MMBSI.
“JPMorgan has a long and distinguished history in health care,” she said. “The goals of the BBA are a strong fit [with JPMorgan's], and we felt like we could be uniquely impactful and provide value in helping to take the health care and life sciences industries to the next level in Alabama.”
The next meetup for the Birmingham group will take place at the end of January. For the past 38 years, JPMorgan has hosted an annual health care conference in San Francisco, bringing together industry leaders, emerging fast-growth companies, innovative technology creators and members of the investment community encompassing the entire global health care landscape. January’s meeting will recap what happened at the conference for those who were not able to attend, Nugent said.
“We are grateful that JPMorgan received the idea so graciously and were willing to collaborate on a program that will benefit companies, institutions and researchers throughout Birmingham,” he said.
For more information or to attend the next meeting, contact Jon Nugent.