The largest healthcare company in the US by revenue. Operates both the largest health insurer (UnitedHealthcare) and the largest healthcare services business (Optum). Effectively runs a significant part of the American healthcare system.
Owns Aetna (health insurance), Caremark (pharmacy benefit manager), and 9,000+ retail pharmacies. Has vertically integrated across the entire healthcare delivery chain. One prescription can touch three CVS businesses.
Operates the largest for-profit hospital network in the US with 180+ hospitals. Benefits directly from ageing demographics — more elderly people means more hospital visits. Pricing power grows as hospital systems consolidate.
One of the largest health insurers in the US, formerly known as Anthem. Manages health benefits for over 40 million members, including Medicaid and Medicare plans. Steady, predictable revenue from government-backed programmes.
Makes the da Vinci surgical robot used in minimally invasive surgeries. Over 8,000 systems installed in hospitals worldwide. Revenue recurs every time a surgery happens — the blades and instruments are single-use. Dominant in robotic surgery.
Linked to Telehealth and Digital Health. Competes with Hims & Hers and Amwell.
Linked to Medical Devices. Relies on Texas Instruments and Thermo Fisher. Competes with Intuitive Surgical and Boston Scientific.
Linked to Diagnostics & Testing and Medical Devices. Relies on Thermo Fisher. Competes with Medtronic and Boston Scientific.
Linked to Life Sciences Tools. Customers include Pfizer, Eli Lilly and Amgen. Competes with Danaher and Illumina.
Linked to Life Sciences Tools and Diagnostics & Testing. Customers include Amgen, AbbVie and Eli Lilly. Competes with Thermo Fisher.
Linked to Wearable Health Tech and Digital Health. Relies on Texas Instruments and Qualcomm. Competes with Abbott and Medtronic.
Linked to Medical Devices. Relies on Texas Instruments and Thermo Fisher. Competes with Medtronic and Intuitive Surgical.
Linked to Medical Imaging and Digital Health. Relies on NVIDIA and Texas Instruments. Competes with Medtronic and Philips.
Linked to Medical Devices and Robotic Surgery. Relies on Texas Instruments and Thermo Fisher. Competes with Medtronic and Intuitive Surgical.
Linked to Health Insurance and Medicare Advantage. Relies on Microsoft. Competes with UnitedHealth and Elevance Health.
Linked to Medical Devices and Robotic Surgery. Customers include HCA Healthcare. Competes with Stryker and Medtronic.
Linked to Health Insurance and Medicaid & Medicare. Competes with UnitedHealth and Molina Healthcare.
Linked to Health Insurance and Medicaid & Medicare. Competes with Centene and UnitedHealth.
Linked to Health Insurance. Competes with UnitedHealth and Elevance.
Linked to Healthcare Services and Digital Health. Competes with UnitedHealth and CVS Health.
Linked to Healthcare Services and Digital Health. Competes with UnitedHealth and CVS Health.
Linked to Healthcare Services and Digital Health. Competes with UnitedHealth and CVS Health.
Linked to Healthcare Services and Digital Health. Competes with UnitedHealth and CVS Health.
Linked to Healthcare Services and Digital Health. Competes with UnitedHealth and CVS Health.
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