About Us
Borna Health Fund invests mainly in the medical technology sector that has an aggregate market cap in excess of $1.5 trillion. Over the past 15 years the medical technology sector has significantly outperformed the S&P 500*.
*As measured by the iShares U.S. Medical Devices ETF (IHI)
Why Invest Now
The world’s medical technology industry continues to grow with four significant drivers, powering healthy secular growth. There is no sign of these powerful drivers abating, or even flattening.
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The global population continues to grow. But more importantly, the population that can afford quality healthcare is growing even faster as living standards rise around the globe.
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As people grow older they require more medical care to maintain health and that care uses a variety of medical technologies.
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Across the developed world, people are growing heavier, which causes a variety of health problems including diabetes, cardiovascular disease and orthopedic issues. Managing or treating these conditions can require significant amounts of medical technology.
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Forty years ago, there was no minimally invasive surgery, arthroscopy, robotics or implantable defibrillators.
Medical technology companies can be attractive growth investments benefiting from secular trends. The companies can be highly profitable with healthy gross and operating margins from recurring revenue streams.
About the Founder
Dr. Jay has extensive experience in healthcare and investment management. In his previous role he ran Siemens Venture Capital’s Healthcare Fund and US. Operations.
Prior to that, Dr. Jay served as a research analyst for nine years at Alex Brown, Deutsche Banc and Wachovia Securities, where he published extensive research on the medical device industry. Dr. Jay has participated in more than 30 equity transactions; raising over $2 billion in equity capital.
Earlier, he was a consultant with Arthur D. Little, where he led projects across the healthcare universe with hospitals, payers, pharmaceutical companies and device manufacturers; helping them address various strategic and operational issues.
Dr. Jay has held numerous board positions in both private and public companies.
Dr. Jay graduated from Rensselaer Polytechnic Institute, the University of Pennsylvania School of Dental Medicine, and has an MBA from Northwestern University.
