On May 7, 2025, Matthew Kittay, Co-Chair of M&A Practice Group at Fox Rothschild and UnDavos hosted “Fuse Health NYC 2025” during the NYC Health Innovation week. This event focused on the immediate and long-term future of healthcare in light of the tectonic shifts underway. The upcoming changes to Medicaid in the budget going through the congress, massive cuts at the Health and Human Services (HHS,) FDA, and CDC, and tariffs are among the massive changes that will impact the coverage and delivery of healthcare. Several panels examined the impacts of these events and explored strategies that can mitigate the damage on the business models of the various stakeholders.
Robin Wood Sailor, Venture Partner at Helena Capital, moderated a panel that included Zoi Capital Managing Director, Dr. Ronald M. Razmi and examined the next 5 years in this sector. The discussions involved the recent developments in the healthcare private markets with few exits and the broken flywheel of exits, distribution of capital back to investors, and more fundraising by the funds, which in turn invest in new companies. If the IPO and M&A markets continue to be slow, and with the recent volatility in the public markets and the cuts at public health institutions, there is every reason to think that trend will continue, then the private market funding of innovative healthcare companies will be increasingly focused on fewer companies. This will mean less shots at the goal and slower pace of innovation
Other panelists included Josh Zenilman, Principal, Ascend Partners; Michael Margolis, Senior Managing Director, Oppenheimer & Co. Inc; and Faizzan Ahmad, Managing Partner, Cure8bio Ventures.