NASHVILLE, Tenn. – October 20, 2008 – Despite the national economic slowdown, Nashville’s health care industry still saw numerous start-up companies enter the market and five headquarter relocations over the past year, according to the Nashville Health Care Council on the release of its [large file] 2008 Family Tree.
The Family Tree is a large-scale visual depiction of Nashville’s deeply-rooted health care industry, which showcases nearly 650 companies with connections to the city’s $18 billion health care cluster that originated in the late 1960s largely from hospital companies HCA and Hospital Affiliates.
Today, Nashville is home to more than 300 health care companies, with combined annual revenue of $46 billion. The city’s health care industry includes 15 publicly-traded health care companies and accounts for more than 310,000 jobs globally. Nashville-based hospital management companies own or operate half of the investor-owned hospitals in the nation.
This year’s Family Tree also includes a new Vanderbilt University Medical Center branch highlighting industry growth stemming from one of Nashville’s and the nation’s first-class academic medical centers.
“The Family Tree clearly illustrates Nashville’s unmatched entrepreneurial track record in health care,” said Thomas G. Cigarran, chairman, Healthways and chairman, Health Care Council. “With this collective expertise and broad industry knowledge, Nashville will continue to be the capital of the nation’s health care industry where its executives play leading roles in the delivery of quality patient care around the globe.”
Nashville health care industry and Health Care Council highlights (July 2007 to June 2008):
- Centerra Healthcare, Cogent Healthcare, SyMedica, Encapsula Nanosciences and Bulow BioTech Prosthetics, moved corporate offices to Nashville.
- Notable additions to Nashville’s health care market include: American Pathology Partners, Atlas Health Systems, change:healthcare, Covenant Surgical Partners, CrawfordSpalding Group, DiaTech Oncology, Healthcare Performance Strategies, Insight Genetics, Microbial Novoteqs, Premerus and Theragnostix Reference Laboratories.
- The Nashville Health Care Council welcomed 24 new corporate members, bringing the total membership to more than 165 members. Leadership Health Care, a program of the Council to cultivate the talent of the next generation of health care leaders, grew to nearly 500 members.
- Since 2000 Nashville health care start-up and established companies have secured almost $2 billion in venture capital funding.
- The Nashville Health Care Council hosted briefings and meetings with high-profile policymakers and business leaders throughout the year to discuss major trends, policy challenges and opportunities facing the health care industry, including the following: U.S. Representative and House Majority Whip Jim Clyburn (D-S.C.), U.S. Representative Bart Gordon (D-Tenn.), U.S. Representative Henry Waxman (D-Calif.), Intel Chairman Craig Barrett, McKesson Provider Technologies President Pamela J. Pure and American Hospital Association President Richard Umbdenstock.
- To further raise the profile of Nashville’s health care industry globally, the Nashville Health Care Council hosted events for representatives from the Swedish Ministry of Health and the China Rural Health Care Exchange and set the stage for a seventh international health care trade mission to Stockholm and Berlin in September 2008.
- The Council provided Leadership Health Care members with the unique opportunity to connect with many of the nation’s key policy and financial leaders during delegation visits to Washington, D.C. and New York City.
“The Family Tree reinforces what an impressive health care industry our city is home to, including many organizations that are world leaders in such industry segments as hospital management, outpatient services, disease management, pharmaceutical services, academic medicine and others,” said Health Care Council President Caroline Young. “In addition, strong access to funding allowed for substantial growth for local companies over the past year, including both existing companies and start-ups.”
For more information on the Council, or to order a 2008 Family Tree, please call (615) 743-3140 or visit www.healthcarecouncil.com.
About the Nashville Health Care Council:
Founded in 1995 as an initiative of the Nashville Area Chamber of Commerce, the Nashville Health Care Council is an association of health care industry leaders working together to further establish Nashville's position as the nation's health care industry capital. The Council fosters the continued growth of Nashville's health care industry by creating a supportive operating environment for existing, start-up and relocating health care businesses. The Council also provides executives with information on operational and policy challenges facing health care companies, as well as networking and mentoring opportunities. Thomas G. Cigarran, chairman of Healthways, serves as 2008-09 Council chairman. For more information, please visit www.healthcarecouncil.com. (###)