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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
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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
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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
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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
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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
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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
