Commercial risk will be a critical catalyst of progress – it’s complicated, but is it possible? We think so.


June 3, 2021

The 45 health care companies on this year's Fortune 500

Daily Briefing

    Fortune on Wednesday released its 67th annual ranked list of the 500 companies that generated the most revenue in the previous fiscal year. Several health systems—as well as many other companies in the health care industry—made the list.

    Cheat sheets: Best places to work

    About the list

    Fortune compiled the list based on the total revenues of for-profit companies for their 2020 fiscal years. To be eligible for the list, companies must have filed financial documents with a state or federal agency.

    This year's Fortune 500 companies have a total of $13.8 trillion in revenue, equivalent to roughly two-thirds of the U.S. gross domestic product.

    Fortune sorted companies on the list based on their sector. Within the health care sector, Fortune sorted companies based on different health care industries, including wholesalers, insurance and managed care, medical products and equipment, and pharmaceuticals.  

    Many health systems are organized as nonprofits, which are not eligible for inclusion on the Fortune 500.

    Health care companies that made the list

    The six health care providers on this year's top 500 list are:

    1. HCA Healthcare (Nashville, Tennessee);
    2. Tenet Healthcare (Dallas);
    3. Universal Health Services (King of Prussia, Pennsylvania);
    4. DaVita (Denver); and
    5. Select Medical Holdings (Mechanicsburg, Pennsylvania).

    The top 500 list also includes seven health insurance companies:

    1. UnitedHealth Group (Minnetonka, Minnesota);
    2. Cigna (Bloomfield, Connecticut);
    3. Anthem (Indianapolis);
    4. Centene (St. Louis);
    5. Humana (Louisville, Kentucky);
    6. Molina Healthcare (Long Beach, California); and
    7. Magellan Health (Phoenix).

    (The Daily Briefing is published by Advisory Board, a division of Optum, which is a wholly owned subsidiary of UnitedHealth Group. UnitedHealth Group separately owns the health insurance company UnitedHealthcare.)

    Fourteen pharmaceutical companies also made the top 500 list:

    1. Johnson & Johnson (New Brunswick, New Jersey);
    2. Merck (Kenilworth, New Jersey);
    3. AbbVie (Chicago);
    4. Bristol-Myers Squibb (New York);
    5. Pfizer (New York);
    6. Amgen (Thousand Oaks, California);
    7. Gilead Sciences (Foster City, California);
    8. Eli Lilly (Indianapolis);
    9. Biogen (Cambridge, Massachusetts);
    10. Viatris (Canonsburg, Pennsylvania);
    11. Regeneron Pharmaceuticals (Tarrytown, New York);
    12. Zoetis (Parsippany, New Jersey);
    13. Vertex Pharmaceuticals (Boston); and
    14. Alexion Pharmaceuticals (Boston).

    Walmart, which has been expanding into the health care field, once against topped the overall Fortune 500 list. Other health care-related companies in the top 500 spots on the list include:

    1. McKesson (Irving, Texas);
    2. AmerisourceBergen (Chesterbrook, Pennsylvania);
    3. Cardinal Health (Dublin, Ohio);
    4. Danaher (Washington, D.C.);
    5. Becton Dickinson (Franklin Lakes, New Jersey);
    6. Stryker (Kalamazoo, Michigan);
    7. Laboratory Corp. of America (Burlington, North Carolina);
    8. Baxter International (Deerfield, Illinois);
    9. IQVIA Holdings (Durham, North Carolina);
    10. Henry Schein (Melville, New York);
    11. Boston Scientific (Marlborough, Massachusetts);
    12. Quest Diagnostics (Secaucus, New Jersey);
    13. Owens & Minor (Mechanicsville, Virginia);
    14. Zimmer Biomet Holdings (Warsaw, Indiana);
    15. Cerner (Kansas City, Missouri); and
    16. Patterson (St. Paul, Minnesota) (Fortune 500 list, accessed 6/2; Fortune release, 6/2).

    Cheat sheets: Best places to work

    Get 1-page cheat sheets on how "Best Places to Work" organizations are chosen

    Is your organization recognized as a "Best Place to Work?" If not, you could be missing an important tool to recruit new employees—and a big opportunity to spotlight your employee engagement work with current staff. Download our cheat sheets to learn exactly how influential publications decide who makes the cut (and who doesn't):

    Download Now

    Have a Question?


    Ask our experts a question on any topic in health care by visiting our member portal, AskAdvisory.