NASHVILLE – Marking another year of strong growth in the country’s premier health care services industry cluster, the Nashville Health Care Council recently unveiled the 2006 version of the annual Health Care Industry Family Tree, which includes more than 550 organizations with connections to Nashville’s dynamic health care industry.
The Family Tree, originally created in 1998 as a guide for investors, serves as a large-scale visual depiction of Nashville’s vibrant health care industry that originates largely from two hospital companies, Hospital Corporation of America and Hospital Affiliates Inc., both of which were founded in the late 1960s. Today, Nashville is home to nearly 300 health care companies, with 20 of those companies publicly traded and generating more than $60 billion in combined annual revenue.
“The Family Tree clearly illustrates Nashville’s strong entrepreneurial track record in health care,” said Wayne Smith, chairman, president & CEO of Community Health Systems and Health Care Council chairman. “With this collective expertise and vast industry knowledge, Nashville will continue to be a health care industry capital whose leaders play an important role in developing solutions to challenges facing the health care system.”
Recent Nashville health care industry and Health Care Council highlights (2005-2006):
• Fresenius Medical Care (NYSE: FMS), the world’s largest renal therapy company, acquires Nashville-based Renal Care Group (NYSE: RCI). Nashville continues to be a national center for the dialysis industry with several leading companies operating out of Nashville – National Renal Alliance, Renal Advantage, Dialysis Clinic Inc. (DCI), DSI Holdings, and the eastern division of Fresenius Medical Care.
• Nashville managed-care company HealthSpring Inc. (NYSE: HS) completes successful IPO.
• United Surgical Partners (NASDAQ:USPI) completes acquisition of Nashville-based surgery center company Surgis Inc.
• Nashville-based biotech firm BioMimetic Therapeutics (NASDAQ: BMTI) completes successful IPO – bringing a new dimension to Nashville’s publicly traded health care landscape.
• Disease management leader American Healthways announces name change to Healthways (NASDAQ: HWAY) to reflect its focus on worldwide business strategies and opportunities.
• Since late 2000, Nashville start-up and emerging health care companies have secured more than $1.2 billion in venture capital and private equity funding, with $100 million of that being invested in the past year. With the additional recapitalizations of existing firms, more than $4.2 billion has been invested in Nashville-based firms over the past six years.
• The Nashville Health Care Council celebrates ten years as an association of health care industry leaders working together to further establish Nashville’s position as the nation’s health care industry capital.
• The Nashville Health Care Council partners with Middle Tennessee State University on an economic impact study of Nashville’s health care industry which underscores the industry’s $18.3 billion impact on the area economy.
• The Nashville Health Care Council welcomes 35 new corporate members in the last year, bringing total membership to 140 members.
“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 Matthew S. Gallivan. “In addition, continued strong access to funding in both the public and private equity markets has 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 2006 Family Tree, please call (615) 743-3140 or visit www.healthcarecouncil.com.