GLP-1s, Brian Thomson killing loom large at JPM Health

San Francisco, famed for its abundance of hoodie-clad tech workers, was overrun by thousands of executives in suits this week for JPMorgan‘s annual health-care conference.

Leaders from major health systems, venture capital firms and companies around the globe clustered in hotel lobbies to talk business and strategy for 2025. The sunny skies were a welcome reprieve from the downpours of years past, but other absences were harder to ignore.

This year’s conference, colloquially known as JPM, took place a month after UnitedHealthcare CEO Brian Thompson was fatally shot in New York City. The news was welcomed by Americans with numerous social media posts expressing resentment toward the health-care industry, with many sharing stories about their negative experiences with insurers. 

More than 10 companies, including Cigna and Walgreens, subsequently pulled their appearances at JPM, according to CNBC’s analysis of the conference agenda. There was a noticeably large police presence at the conference’s main venue, the Westin St. Francis Hotel, and many companies beefed up security at their private events and parties. 

“The subterranean topic that I think people are talking about around the water and the cocktails is obviously what happened to the UnitedHealthcare CEO,” said Wei-Li Shao, president of metabolic health startup Omada. “What does that mean for health-care? What transformation should occur? And how do things get more responsible?” 

Thompson’s murder was a “stunning, sad event” that has served as a wake up call for the health-care industry, said Erik Wexler, CEO of the nonprofit health system Providence, which is made up of 51 hospitals and 1,000 clinics across seven states.

“Why are we on a separate pathway here? Why are we fighting?” Wexler said. “Our job is to do good for people who desperately need us at the most important time of their lives, whether you’re the payer or you’re the hospital.”

While Thompson’s death loomed large over the conference, there was also palpable excitement and buzz about 2025. There was no shortage of discussions about the potential benefits of artificial intelligence and the blockbuster weight loss drugs called GLP-1s, and investors seem cautiously optimistic that the digital health market could turn a corner.  

“There are so many amazing things on the horizon for health-care,” said Dexcom CEO Kevin Sayer.

“Drug companies and companies like ours, we try real hard to improve people’s lives, and we make a huge difference,” said Sayer, who knew Thompson well….