Six Fast Facts About The Healthcare Industry In Nashville
Nashville's long been a hub of hospitals, but more recently the healthcare industry here, and the real estate sector that serves it, has evolved into a diverse range of activity, including long-term care, health information tech, behavioral health and more. Here are six fast facts about the industry in Nashville now.
1. Healthcare Is Really Big: Here Are Some Numbers
The economic contribution of healthcare to the Nashville economy in 2015 was $38.8B, a 32% increase from five years earlier. Healthcare represents a quarter of all total occupations in the area, supporting 249,000+ jobs locally.
2. 400 Healthcare Companies Plus 400 More
Nearly 400 healthcare companies call Music City home, some with an international reach. Also, more than 400 professional services firms specializing in the healthcare industry are in Nashville. (Pictured: HCA in '72; things have come a long way.)
Source: Nashville Healthcare Council
3. The Impact Of 16 Publicly Traded Healthcare Companies
16 publicly traded companies specializing in healthcare are HQ'd in Nashville (as of 2015), generating more than $73B in revenue and more than half a million jobs globally.
Source: Nashville Healthcare Council
4. Healthcare IT Mergers Are Hot In Nashville
The latest evidence that healthcare IT is a red-hot market for M&A: Nashville-based HealthStream’s recent $48M purchase of Chicago-based software company Morrisey Associates, whose products help healthcare organizations assess the performance of their clinicians and meet regulatory requirements.
Source: Modern Healthcare
5. Venture Capitalists Love Nashville Healthcare
Between 2005 and 2015, more than $940M was invested in Nashville healthcare companies by venture capital firms. That's about 60% of Nashville’s total venture capital investment dollars over that period.
Source: Nashville Capital Network and the Nashville Health Care Council
6. VUMC Receives Largest Grant In Its History
This summer, Vanderbilt University Medical Center said it's receiving a $71.6M grant, the largest in its history, from the federal government. The goal is to establish a data research center to further an initiative to bring tailored treatment into everyday medicine.
Source: The Tennessean
