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May 19, 2020

The 45 health care companies that made this year's Fortune 500

Daily Briefing

    Fortune on Monday released its 66th annual ranked list of the 500 companies that generated the most revenue in the previous fiscal year, and five health care systems—as well as dozens of other companies in the health care industry—made the list.

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    About the list

    Fortune compiled the list based on the total revenues of for-profit companies for their 2019 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 $14.2 trillion in revenue, equivalent to more than 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 medical facility, insurance/managed care, and pharmaceutical.  

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

    1. HCA Healthcare (Nashville, Tennessee);
    2. Tenet Healthcare (Dallas);
    3. DaVita (Denver);
    4. Community Health Systems (Franklin, Tennessee); and
    5. Universal Health Services (King of Prussia, 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 (Scottsdale, Arizona).

    (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.)

    Eleven pharmaceutical companies also made the top 500 list:

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

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

    1. CVS Health (Woonsocket, Rhode Island);
    2. McKesson (Irving, Texas);
    3. AmerisourceBergen (Chesterbrook, Pennsylvania);
    4. Cardinal Health (Dublin, Ohio);
    5. Walgreens Boots Alliance (Deerfield, Illinois);
    6. 3M (St. Paul, Minnesota);
    7. Abbott Laboratories (Abbott Park, Illinois);
    8. Thermo Fisher Scientific (Waltham, Massachusetts);
    9. Rite Aid (Camp Hill, Pennsylvania);
    10. Danaher (Washington, D.C.);
    11. Becton Dickinson (Franklin Lakes, New Jersey);
    12. Stryker (Kalamazoo, Michigan);
    13. Laboratory Corp. of America (Burlington, North Carolina);
    14. Baxter International (Deerfield, Illinois);
    15. IQVIA Holdings (Durham, North Carolina);
    16. Boston Scientific (Marlborough, Massachusetts);
    17. Henry Schein (Melville, New York);
    18. Owens & Minor (Mechanicsville, Virginia);
    19. Zimmer Biomet Holdings (Warsaw, Indiana);
    20. Quest Diagnostics (Secaucus, New Jersey); and
    21. Cerner (Kansas City, Missouri) (Fortune500 list, accessed 5/18; Fortune500 list methodology, accessed 5/18; Ellison, Becker's Hospital Review, 5/18).

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