Public Canadian healthcare companies operate in a complex, challenging and constantly changing global environment. In 2009, some companies celebrated success, most focused on survival and a few did not make it. In this review, we will look at some of the environmental changes and company-specific events of 2009 which characterize this challenging year and will impact the future of this sector.The sector raised a total of about $1.28 billion from equity and convertible debt financings in 2009.
Excluding the US$350 million convertible debt financing by Biovail and the US$215 million equity financing by SXC Health Solutions, the rest of the sector raised $654 million, which is substantially better than the 2008 total but is still far below the annual average of almost $1.05 billion for 2005 through 2007.
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