How DNB became a powerhouse in the healthcare industry

Why did health become a strategic focus, and how has this initiative evolved since then?

– Healthcare became a strategic priority almost 20 years ago because it is one of the most important and fastest-growing global sectors, accounting for over 11% of global GDP. It is stable, largely recession-resistant, and driven by strong fundamentals such as aging populations, rising chronic disease, and accelerating innovation. Since 2007, we have built brick by brick, expanding our strong Nordic and international platform. In recent years we have entered into a partnership with Back Bay Life Science Advisors and together we provide essential strategic and financial support to healthcare companies. Since 2007, we’ve built—brick by brick—an integrated Nordic and international platform, today operating as DNB Carnegie alongside our DNB // Back Bay partnership.  Together, we provide essential strategic and financial support to healthcare companies throughout their lifecycle.

What makes DNB a leading player in the health and life science sector in the Nordics?

– Our leadership stems from a unique combination of capital, expertise, and connectivity. DNB is the Nordic healthcare bank – today we operate under the unified DNB and DNB Carnegie brand, pairing leading Nordic research, ECM/M&A and corporate banking with global reach. And we’re the only Nordic bank with an international healthcare focus across corporate banking and investment banking. Through initiatives like the Nordic Healthcare Conference and the HIA program, we connect Nordic companies with investors and strategic partners.  The Industry and Venture Session of the conference this year focuses on strengthening the Nordic healthcare ecosystem – and how to make Norway a key player. This ability to bridge the Nordic and U.S. markets is a key differentiator and positions us as a catalyst for growth across the entire healthcare value chain. Our platform spans hubs in the Nordics, US, UK and Singapore, with recent transactions across debt, equity and advisory.

How does the partnership with Back Bay Life Science Advisors strengthen DNB’s global position?

– The DNB//Back Bay Healthcare Partnership combines Back Bay’s scientific and strategic expertise with DNB’s global financing and execution capabilities. Together, we support healthcare companies across various healthcare segments and development stages. This partnership enhances our ability to prepare Nordic companies for U.S. market entry, while offering global clients a value proposition few banks can match. It reinforces our role as a bridge between Nordic innovation and international capital markets. Together we offer end‑to‑end support—from scientific and commercial analytics to IPO/M&A execution—on a single cross‑border team.

 The HIA program aims to help Nordic companies succeed in the U.S. What are the biggest barriers for Nordic healthcare players internationally, and how does HIA address these?

– The main operational barriers are regulatory complexity, access to capital and limited networks in the US market.  But equally as important we see cross-cultural communication as another significant barrier – translating Nordic norms to a global audience.  HIA addresses this last issue specifically by helping sharpen their pitch, providing strategic guidance, investor introductions, and market intelligence. The unified DNB client teams help companies and clients navigate regulatory requirements and build credibility with global stakeholders—accelerating their path to international success. 

Can you give examples of how HIA has created concrete opportunities for Norwegian companies?

– Through HIA, companies have gained direct access to investors, secured partnerships, and tapped into expertise that accelerated their growth trajectory. Several have transitioned from promising innovators to attractive investment cases. These tangible outcomes demonstrate the program’s impact in bridging Nordic innovation with global opportunities. 

How important is collaboration with players like Innovation Norway and international investor networks for the success of this strategy?

– Collaboration is critical. No single player can lift the healthcare industry alone. We work with clusters and organizations across the Nordics.  Innovation Norway’s programs and US market visits complement DNB Carnegie capital markets access and BBLSA strategy. Combined these partnerships create an ecosystem that enables Nordic companies to scale globally.

DNB is described as a “powerhouse” in the healthcare industry. What does that term mean to you?

– It means we combine capital, expertise, and networks in a way few others can. We are not just a bank—we are a strategic partner that supports companies from early-stage development to international expansion. A 100+ person global healthcare team and recent Nordic/US transactions underpin the ‘powerhouse’ label. This integrated approach is what makes us a true powerhouse.

Which trends in the healthcare market do you see as most decisive for DNB’s future focus?

– Biopharma innovation remains a long‑run driver; MedTech outperformance is tied to complex, differentiated products; Services must manage labor‑cost inflation; HCIT growth hinges on execution—our focus follows resilience and pricing power across these.

Can you mention some healthcare companies you find particularly exciting?

– The Nordic region is home to exceptional innovation in biotech, medtech, and digital health. While I won’t single out specific names, we see groundbreaking work in cancer treatment, advanced medical devices, and digital platforms that improve patient care. We’re seeing standout work in oncology, advanced devices and digital platforms—as reflected clearly in this year’s HIA program mix.  This diversity and quality make the Nordic healthcare ecosystem truly world-class

What are your ambitions for DNB Healthcare over the next five years?

– Our ambition is to strengthen our position as The Nordic Healthcare Bank with global reach under DNB Carnegie, expanding ECM/M&A/DCM advisory and cross‑border lending on an integrated platform.

Why is the DNB Nordic Healthcare Conference 2025 important?

– The 16^th DNB Carnegie Nordic Healthcare Conference brings investors and companies together across two tracks—DNB // Back Bay Industry & Venture and DNB Carnegie Listed & Private—with one‑on‑one meetings and a curated program.  It fosters dialogue, builds relationships, and opens doors for capital and collaboration. This year’s event is our largest yet—with more companies, more investors, and more opportunities to shape the future of healthcare.