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September 22, 2023

Top Financial Executives Discuss Investment Trends for the Health Care Industry

Top Financial Executives Discuss Investment Trends for the Health Care Industry
by Nashville Health Care Council | May 09, 2013

Today, an audience of 300 Nashville Health Care Council member executives heard insights from some of the nation’s top investment experts at the Council’s annual Financing the Deal panel discussion.


Speakers noted that while health care reform is causing a dramatic shift for the industry, chances for growth exist in new, more efficient and innovative business models. They also predicted an increase in merger and acquisition activity through the remainder of the year.

“Nashville companies are finding new advantages in a rapidly changing industry. As a city known for creativity and entrepreneurism, Nashville is home to a diverse health care industry that is ready to meet the challenges ahead,” said Wayne T. Smith, chairman, president and CEO of Nashville-based public company Community Health Systems, who served as moderator of today’s discussion.

View panel member interviews on YouTube and event photos on Flickr. Photo credit: (c) 2013, Donn Jones

“Despite the trials of a new regulatory structure, there is a current wave of ideas and entrepreneurship that is making health care a very dynamic place to be investing right now. Companies with solid ideas and strong management are ripe for dealmaking,” said panelist Ralph Davis, partner, Cressey & Company.

Panelist Brian McCarthy, vice chairman of health care investment banking, Bank of America Merrill Lynch, added, “When the uncertainty of health reform is behind us, I am convinced we will see an uptick in acquisition activity and it will include some previously unlikely alliances among different industry sectors.”

In response to the Patient Protection and Affordable Care Act, increasing the quality and decreasing the cost of care is a top focus for most health care companies. “The industry is changing as it reacts to price pressure and payment reform. With these shifts, mergers and acquisitions are going to be driven by deals that create efficiency and high-quality outcomes,” said James McLain, senior vice president, Brown Brothers Harriman.

Nashville health care companies are well positioned right now for dealmaking, especially the investor-owned hospitals. We see this group particularly interested in acquisitions that provide them a larger piece of the health care delivery system,” said Jonathan Morphett, managing director, Avondale Partners.

More than 250 health care companies have operations in Nashville and work on a multi-state, national or international basis. Fifteen publicly traded health care companies are headquartered in Nashville.

“Over the past 40 years, Nashville has led the nation in health care innovation. The Council is dedicated to nurturing this thriving business community so that established and emerging companies can continue to succeed and grow here,” said Caroline Young, president, Nashville Health Care Council.

About the Nashville Health Care Council

The Nashville Health Care Council, founded in 1995 as an initiative of the Nashville Area Chamber of Commerce, is an association of health care industry leaders working together to further establish Nashville’s position as the nation’s health care industry capital. Worldwide, Nashville’s health care industry generates more than $70 billion in revenue and over 400,000 jobs, and is Nashville’s largest and fastest growing employer. For more information on the Council, please visit

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