About the list

Fortune  compiled the list based on the total revenues of for-profit companies for their 2022 fiscal years. To be eligible for the list, companies must have filed financial documents with a state or federal agency.

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

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

Healthcare companies on the Fortune 500 list

The five medical facilities on the Fortune  500 list are:

66. HCA Healthcare (Nashville, TN)

215. Tenet Healthcare (Dallas, TX)

311. Universal Health Services (King of Prussia, PA)

337. Community Health Systems (Franklin, TN)

357. DaVita (Denver, CO)

The list also includes five health insurance companies:

5. UnitedHealth Group* (Minnetonka, MN)

22. Elevance Health (Indianapolis, IN)

25. Centene (St. Louis, MO)

42. Humana (Louisville, KY)

126. Molina Healthcare (Long Beach, CA)

(*Daily Briefing is published by Advisory Board, a division of Optum, which is a wholly owned subsidiary of UnitedHealth Group.)

Fourteen pharmaceutical companies made the list:

38. Pfizer (New York, NY)

40. Johnson & Johnson (New Brunswick, NJ)

69. Merck (Readington, NJ)

73. AbbVie (Chicago, IL)

95. Bristol-Myers Squibb (New York, NY)

142. Eli Lilly (Indianapolis, IN)

150. Gilead Sciences (Foster City, CA)

154. Amgen (Thousand Oaks, CA)

211. Moderna (Cambridge, MA)

256. Viatris (Canonsburg, PA)

339. Regeneron Pharmaceuticals (Tarrytown, NY)

386. Biogen (Cambridge, MA)

427. Vertex Pharmaceuticals (Boston, MA)

463. Zoetis (Parsippany-Troy Hills, NJ)

Six companies in the medical products and equipment sector made the list:

99. Abbott Laboratories (Chicago, IL)

132. Danaher (District of Columbia)

209. Becton Dickinson (Franklin Lakes, NJ)

224. Stryker (Kalamazoo, MI)

274. Baxter International (Deerfield, IL)

323. Boston Scientific (Marlborough, MA)

Five pharmacy and other healthcare service companies made the list:

6. CVS Health (Woonsocket, RI)

15. Cigna (Bloomfield, CT)

278. Laboratory Corp. of America (Burlington, NC)

286. IQVIA Holdings (Durham, NC)

391. Quest Diagnostics (Secaucus, NJ)

The list also included five wholesalers within the healthcare industry:

9. McKesson (Irving, TX)

11. AmerisourceBergen (Conshohocken, PA)

14. Cardinal Health (Dublin, OH)

325. Henry Schein (Melville, NY)

390. Owens & Minor (Mechanicsville, VA)

And two scientific equipment companies:

97. Thermo Fisher Scientific (Waltham, MA)

485. Avantor (Radnor Township, PA)

Walmart, which has been expanding into the healthcare field, once again topped the overall Fortune  500 list. (Fortune  500 list, 6/5; Fortune  500 methodology, accessed 6/6)

In this infographic, we look at the revenue breakdown by segment for six of the largest national health insurers to see what's driving their bottom lines.