The return of the initial public offering on Wall Street has helped increase value in healthcare offerings five-fold, even though there were technically fewer deals during the second quarter, according to a PricewaterhouseCoopers report.
Three IPOs fetched nearly $600 million in health care during the three month period ended June 30, 2011, a 320 percent increase from the $142 million brought in on four initial public offerings during the same period last year.
Health care was one of the least active sectors for public offerings, coming in at seventh place on PwC’s rankings.
The surge was part of an overall trend on The Street that saw a 129 percent increase in total proceeds raised during Q2. IPOs brought in $11.9 billion overall, compared to $5.2 billion for the same period last year. The second quarter included the high profile Linkedin IPO, which fetched the largest one day return.