Council Press Releases

September 21, 2023

Council Unveils 2007 Family Tree

Council Unveils 2007 Family Tree

NASHVILLE – Marking another year of strong growth in the country’s premier health care services industry cluster, the Nashville Health Care Council unveiled the 2007 version of the annual Health Care Industry Family Tree, which includes more than 575 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.

Over the past year, many of the largest leveraged buyouts and merger and acquisitiontransactions in health care in the United States have involved Nashville-based companies including the largest large-scale buyout Wall Street had ever seen. Adding several headquarter relocations and the creation of numerous start-ups, Nashville is home to more than 300 health care companies, with combined annual revenue of nearly $80 billion in 2006.

“The Family Tree clearly illustrates Nashville’s strong entrepreneurial track record in health care,” said Wayne T. 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.”

Nashville health care industry and Health Care Council highlights (July 2006 to June 2007):

· HCA, the long-time cornerstone of Nashville’s health care industry, goes private in a $33billion transaction, marking the largest leveraged buyout in Wall Street history at that time.

· Drugstore chain operator CVS completes a $26.5 billion acquisition of pharmacy manager Caremark. The CVS Caremark Corporation (NYSE: CVS) pharmacy benefit service operations remain in Nashville.

· Community Health Systems (NYSE: CYH) undertakes a $6.7 billion acquisition of Texasbased Triad Hospitals to become the largest publicly traded hospital operator in the nation.

· Surgical facilities company Symbion completes a $637 million acquisition agreement with private equity firm Crestview Partners.

· Healthways (NASDAQ: HWAY) acquires Arizona-based Axia Health Management for $450 million.

· Psychiatric Solutions (NASDAQ: PSYS) acquires Texas-based competitor Alternative Behavioral Services in a $426 million deal.

· Hospital specialist program operator Cogent Healthcare, home health service provider Guardian Home Care Holdings, walk-in clinic operator The Little Clinic, and dental managed care organization Forba Holdings, all move their corporate offices to Nashville.

· Notable additions to Nashville’s health care market include: Amerigroup Corporation, Behavioral Centers of America, BreatheAmerica, Cloverleaf Partners Healthcare Services, Health Connect Partners, PharmMD, ProjX, and Radiation Oncology Services of America.

· Since 2000 Nashville health care start-up and early-stage companies have secured more than $5.5 billion, including more than $200 million in venture capital and private equity funding in the last year.

· The Nashville Health Care Council welcomes 33 new corporate members, bringing the total membership to 156 members.

· The Nashville Health Care Council hosts 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. Senator Chuck Grassley (R-IA), U.S. Senator John D. Rockefeller (D-WV), U.S. Representative Charles B. Rangel (D-NY), HCA Chairman & CEO Jack O. Bovender, Jr., and DaVita Chairman and CEO Kent J. Thiry.

“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, strong access to funding in both the public and private equity markets 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 2007 Family Tree, please call (615) 743-3140 or visit

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