Investment Trusts

HBM Healthcare Investments AG

HBMN:SWX

HBM Healthcare Investments AG

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  • Price (CHF)222.50
  • Today's Change0.50 / 0.23%
  • Shares traded4.39k
  • 1 Year change+19.37%
  • Beta0.9422
Data delayed at least 15 minutes, as of Feb 18 2026 12:14 GMT.
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About the company

HBM Healthcare Investments AG is a Switzerland-based venture capital company investing in emerging companies, mainly from the biotechnology and human medicine, diagnostics, as well as medical technology sectors. The Company focuses on unlisted companies, with two-thirds of assets being invested in private companies that offer high value-creation potential. As a holding company, it is involved in the acquisition, disposal and management of a diversified portfolio, as well as in financing and supporting the portfolio firms as a key partner. It focuses on companies with products either at an advanced stage of development or already available on the market. The primary investment areas are Western Europe and the United States. The Company's portfolio includes approximately 25 companies. As of March 31, 2012, the Company had six wholly owned subsidiaries, including three subsidiaries on Cayman Islands, two Barbados-based subsidiaries and a subsidiary in the United States.

  • Revenue in CHF (TTM)262.50m
  • Net income in CHF238.49m
  • Incorporated2001
  • Employees--
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Profile

Management group(s)HBM Partners Cayman Ltd
AIC sector--
ISINCH0012627250
Launch date14 Feb 2008
Share typeOrdinary Share
StructureInvestment Trust
Base currencyCHF

Objective

HBM Healthcare Investments’ objective is to generate long-term capital gains with investments in private and public companies in the human medicine, biotechnology, medical technology and diagnostics sectors, and related areas. Within its target sector, HBM Healthcare Investments invests predominantly in later-stage private companies which are attractively valued and have a convincing business model, including their product pipeline, technology and management. Investments are made worldwide, primarily in Europe, Asia and North America.

Managed by

Andreas Wicki, Erwin Troxler

Management & contract fees

Management fee (paid quarterly): 0.75% of Company assets plus 0.75% of the Company's market capitalisation. Performance fee (paid annually): 15% on increase in value above the high water mark.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Aberforth Smaller Companies Trust plc119.23m100.55m1.38bn0.0014.190.9557--11.581.181.181.4017.450.0769--33.99--6.487.856.657.9891.3892.1784.3387.25--22.250.051336.34-33.22---36.52----7.04
Rosebank Industries PLC-104.48bn-104.48bn1.39bn----4.44----------0.7383----------------------------0.0311--------------
Is Yatirim Menkul Degerler AS25.46bn113.17m1.40bn603.0012.242.779.560.0554.334.33972.3919.1317.494,275.3726.282,305,537,000.009.5711.4928.4038.140.39291.230.54730.91411.42--0.175157.5349.3631.33-31.1670.4352.93127.33
Worldwide Healthcare Trust PLC-155.38m-176.02m1.42bn0.00--1.01-----0.3233-0.3233-0.30733.54-0.0818-------9.262.87-9.853.03--73.57--69.87----0.0023.15-180.77---204.28-----0.8131
BH Macro Ltd345.42m207.84m1.47bn0.008.360.9993--4.240.51370.51370.84444.300.2215--23.74--13.335.9913.366.1190.0279.1060.1740.87--16.130.000.0022.3318.13-12.43-0.4175----
HBM Healthcare Investments AG262.50m238.49m1.50bn--6.180.7904--5.7035.9335.9339.15280.870.1342--5,706.52--12.195.6212.675.6991.9769.2890.8566.41----0.085756.5281.12-29.131,812.10-36.72---0.525
JPMorgan Emerging Mkts Grt & Inc PLC68.16m51.70m1.50bn0.0032.411.18--21.960.0460.0460.06111.260.0488--10.71--3.703.703.733.7186.3385.2075.8573.94----0.0033.23-37.698.03-41.7710.10--8.14
Gimv NV365.87m183.53m1.52bn94.007.500.83868.174.156.036.0312.2253.900.1805--77.954,263,862.009.058.609.308.8895.5795.3250.1645.49--3.320.153845.0926.8527.650.8622----1.39
Fidelity Special Values PLC180.43m165.49m1.52bn0.009.171.15--8.430.49010.49010.53373.920.1429--18.30--13.1114.6713.1414.7496.0396.2291.7292.98--26.490.0019.15-27.12---29.07----11.95
Kinnevik AB0.00-287.37m1.54bn47.00--0.5041-----12.08-12.080.00127.390.00-------8.14-4.98-8.51-5.08-------250.19---0.0850.0542---100.00---27.56------
AG Anadolu Grubu Holding AS11.31bn40.11m1.54bn72.49k38.510.80271.760.13660.93490.9358263.6344.851.096.7814.188,491,218.003.469.699.8427.5028.4527.653.188.860.63080.8580.32994.514.0065.96-81.8356.1168.37110.84
Fidelity China Special Situations PLC616.52m582.12m1.58bn0.002.840.8925--2.561.131.131.193.590.376--98.88--35.504.8636.615.0994.7872.5794.4269.96----0.0041.72314.48--258.35----13.49
Roko AB (publ)554.04m65.10m1.58bn1.58k29.364.0215.812.8551.6651.66439.90377.12------4,077,750.00--------44.71--11.69--0.532227.310.2049--4.37--7.41------
Tamburi Investment Partners SpA2.14m78.50m1.58bn14.0017.811.0620.84739.980.52820.52820.01448.870.0012--8.18167,476.404.223.414.593.91----3,532.47178.78----0.268738.62-97.74-30.20-55.174.2925.1212.20
Peugeot Invest SA157.92m36.37m1.59bn31.0043.860.439222.6710.071.591.596.94159.160.0251--2.065,580,581.001.103.701.234.11----43.5981.18--1.780.203932.14-7.725.587.082.18-10.828.61
Tetragon Financial Group Ltd760.68m537.08m1.61bn570.001.960.3511--2.117.627.6210.8142.580.2702--40.001,863,962.0019.087.0519.727.2376.0969.8270.6060.35--26.740.089817.49116.455.30149.614.11---9.88
Data as of Feb 18 2026. Currency figures normalised to HBM Healthcare Investments AG's reporting currency: Swiss Franc CHF

Institutional shareholders

7.30%Per cent of shares held by top holders
HolderShares% Held
Saba Capital Management LPas of 29 Aug 2025199.57k2.96%
Partners Group AGas of 30 Jun 202570.49k1.05%
Carnegie Fonder ABas of 30 Dec 202556.84k0.84%
LGT Capital Partners AG (Investment Management)as of 31 Oct 202535.00k0.52%
PMG Investment Solutions AGas of 30 Jun 202534.40k0.51%
Entrepreneur Partners AGas of 30 Jun 202529.14k0.43%
LUKB Expert Fondsleitung AGas of 31 Jul 202523.03k0.34%
DNB Asset Management ASas of 28 Nov 202516.07k0.24%
Axxion SA (Luxembourg)as of 30 Jun 202515.04k0.22%
Invesco Capital Management LLCas of 06 Feb 202612.71k0.19%
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Data from 30 Jun 2025 - 30 Jan 2026Source: FactSet Research Systems Inc.
Data Provided by LSEG
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