Jonathan Palmer

Obviously, the U.S.

is the biggest healthcare market in the world, but how do you guys think about international and where you want to place your bets through that framework, whether it's access or the logistics framework?

That's fantastic.

It definitely sounds like a very differentiated approach compared to maybe what some others are doing.

As we sit here near the end of our time and we're recording this in December, I was wondering, any predictions on what we're going to see in 2026 from a market perspective, technology perspective, anything you're really excited about over the next 12 months?

Well, it's an interesting point, you know, when I think about some of your partners, competitors on the PE side, whether it's New Mountain or Blackstone, Carlyle.

some of the assets that they've been acquiring are pretty sizable.

Do you think these ultimately come to market or do they just continue to trade hands among the PE players?

That's great.

Well, Bill, I want to thank you for all your insights and giving us an overview of GHI.

It's been fantastic to see your progress.

You know, I've spoken to a lot of the leaders of some of the companies you've invested in, and they're really fantastic people and companies that are changing the way healthcare is done in this world.

So congratulations on all your success.

The way I like to wrap up these conversations is to really talk about or ask about maybe something from either your personal life or your professional life, a lesson that maybe defines you.

You know, what do you see as your mission at the end of the day?

I couldn't agree more.

Thank you so much for sharing that.

And with that, we'll wrap up.

That's Bill Toronto, president and general partner of the Merck Global Health Innovation Fund.

Thank you so much for joining us for our latest episodes.