Top 10 Best Healthcare Companies in The World

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2020 was the year when healthcare became a top priority for many people round the world, due to the arrival of the Covid-19 pandemic. As a result companies that provide medical services such as health insurance and hospital administration, and in particular companies producing drugs and medical devices, saw a huge amount of growth.

It comes as no surprise that most of the countries also prefer to prioritise healthcare services over the security and military services. It is also speculated that with the coming years, there will be a significant increase in the healthcare services rendered and the number of people working on it. It is therefore worth considering that healthcare is one of the basic services that any country needs to pool its resources into. This is one sector that directly influences the growth of a nation as healthy individuals are the stretch of the nation. So here is a list of the top 10 best healthcare companies in the world.

10. Aetna

Photo: Healthcare IT News

Aetna Inc. is an American managed health care company that sells traditional and consumer directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. Since November 28, 2018, the company has been a subsidiary of CVS Health.

The company's network includes 22.1 million medical members, 12.7 million dental members, 13.1 million pharmacy benefit management services members, 1.2 million health-care professionals, over 690,000 primary care doctors and specialists, and over 5,700 hospitals.

Aetna is the direct descendant of Aetna (Fire) Insurance Company of Hartford, Connecticut. The name of the company is based on Mount Etna, at the time the most active volcano in Europe.

9. Anthem

Photo: Wall Street Journal

Anthem, Inc., is a provider of health insurance in the United States. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2018, the company had approximately 40 million members.

Anthem is ranked 29th on the Fortune 500.

Prior to 2014, it was named WellPoint, Inc. The company was formed by the 2004 merger of WellPoint, based in California, and Anthem, based in Indianapolis, after both companies acquired several health insurance companies.

The company operates as Anthem Blue Cross in California, where it has about 800,000 customers and is the largest health insurer. It operates as Empire BlueCross BlueShield in New York State and as Anthem Blue Cross and Blue Shield in 10 states.

8. Johnson & Johnson

Photo: Johnson Fitness & Wellness

Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer packaged goods. Its common stock is a component of the Dow Jones Industrial Average and the company is ranked No. 36 on the 2021 Fortune 500 list of the largest United States corporations by total revenue. Johnson & Johnson is one of the world's most valuable companies, and is one of only two U.S.-based companies that has a prime credit rating of AAA, higher than that of the United States government.

Johnson & Johnson is headquartered in New Brunswick, New Jersey, the consumer division being located in Skillman, New Jersey. The corporation includes some 250 subsidiary companies with operations in 60 countries and products sold in over 175 countries. Johnson & Johnson had worldwide sales of $82.6 billion during calendar year 2020. Johnson & Johnson's brands include numerous household names of medications and first aid supplies. Among its well-known consumer products are the Band-Aid Brand line of bandages, Tylenol medications, Johnson's Baby products, Neutrogena skin and beauty products, Clean & Clear facial wash and Acuvue contact lenses. Johnson & Johnson's pharmaceutical arm is Janssen Pharmaceutica.

7. Walgreens Boots Alliance

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Walgreens Boots Alliance, Inc. is a holding company headquartered in Deerfield, Illinois that owns the retail pharmacy chains Walgreens and Boots, as well as several pharmaceutical manufacturing, wholesale, and distribution companies. The company was formed on December 31, 2014, after Walgreens purchased the 55% stake in Alliance Boots that it did not already own. The total price of the acquisition was $4.9 billion in cash and 144.3 million common shares with fair value of $10.7 billion. Walgreens had previously purchased 45% of the company for $4.0 billion and 83.4 million common shares in August 2012 with an option to purchase the remaining shares within three years. Walgreens became a subsidiary of the newly created company after the transactions were completed. As of 2020, Walgreens Boots Alliance is ranked #19 on the Fortune 500 rankings of the largest United States corporations by total revenue.

6. Cardinal Health

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Cardinal Health, Inc. is an American multinational health care services company, and the 14th highest revenue generating company in the United States. Its headquarters are in Dublin, Ohio and Dublin, Ireland (EMEA). The company specializes in the distribution of pharmaceuticals and medical products, serving more than 100,000 locations. The company also manufactures medical and surgical products, including gloves, surgical apparel, and fluid management products. In addition, it operates one of the largest network of radiopharmacies in the U.S. Cardinal Health provides medical products to over 75 percent of hospitals in the United States.

Founded in 1971 as Cardinal Foods by Robert D. Walter, the company was initially a food wholesaler. After acquiring the Bailey Drug Company in 1979, it began whole selling drugs. The company went public on the NASDAQ stock exchange in 1983.

In 1988, Walter sold Cardinal Health's food operations to Roundy's. From 1991 to 1996, the company's sales grew from $1.2 billion to $8.9 billion. The company changed its name to Cardinal Health in 1994, and became the third-largest pharmaceutical wholesaler in the United States.

5. Express Scripts Holdings

Photo: The Business Journals

Express Scripts Holding Company is a pharmacy benefit management (PBM) organization. In 2017 it was the 22nd-largest company in the United States by total revenue as well as the largest pharmacy benefit management (PBM) organization in the United States. Express Scripts had 2016 revenues of $100.752 billion. Since December 20, 2018, the company has been a subsidiary of Cigna.

The term "scripts" refers to the widely used clipped version of prescription.

Headquartered in Greater St. Louis within unincorporated North St. Louis County, Missouri, Express Scripts provides integrated pharmacy benefit management services including network-pharmacy claims processing; home delivery pharmacy services; specialty pharmacy benefit management, through its subsidiary Accredo; benefit-design consultation; drug-utilization review; formulary management; and medical and drug data analysis services to manage drug plans for health plans, self-insured employers and government agencies (both as administrator of employee benefits and public assistance programs). One of its largest clients is the United States Department of Defense's Tricare program.

4. AmerisourceBergen

Photo: Wall Street Journal

AmerisourceBergen Corporation is an American drug wholesale company that was formed by the merger of Bergen Brunswig and AmeriSource in 2001. They provide drug distribution and consulting related to medical business operations and patient services. They also distribute a line of brand name and generic pharmaceuticals, over-the-counter (OTC) health care products and home health care supplies and equipment to health care providers throughout the United States, including acute care hospitals and health systems, independent and chain retail pharmacies, mail-order facilities, physicians, clinics and other alternate site facilities, as well as nursing and assisted living centers. They also provide pharmaceuticals and pharmacy services to long-term care, workers' compensation and specialty drug patients.

AmerisourceBergen handles about 20% of all of the pharmaceuticals sold and distributed throughout the United States and ranked 10th on the Fortune 500 list for 2020 with over $179 billion in annual revenue. In 2012, the firm was the largest by revenue based in Pennsylvania.

3. UnitedHealth Group

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UnitedHealth Group Incorporated is an American multinational managed healthcare and insurance company based in Minnetonka, Minnesota. It offers health care products and insurance services. UnitedHealth Group is the world's eighth largest company by revenue and second-largest healthcare company behind CVS Health by revenue, and the largest insurance company by net premiums. UnitedHealthcare revenues comprise 80% of the Group's overall revenue.

The company is ranked 8th on the 2021 Fortune Global 500. UnitedHealth Group has a market capitalization of $400.7 billion as of March 31, 2021.

2. McKesson

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McKesson Corporation is an American company distributing pharmaceuticals and providing health information technology, medical supplies, and care management tools. The company had revenues of $231.1 billion in 2020. The company delivers a third of all pharmaceuticals used in North America and employs over 78,000 employees.

McKesson is based in Irving, Texas and distributes health care systems, medical supplies and pharmaceutical products. Additionally, McKesson provides extensive network infrastructure for the health care industry; also, it was an early adopter of technologies like bar-code scanning for distribution, pharmacy robotics, and RFID tags. The company has been named in a federal lawsuit of profiting from the opioid epidemic in the United States.

As of 2020, McKesson was ranked 8 on the Fortune 500 rankings of the largest United States corporations, with revenues of $214 billion.

1. CVS Health

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CVS Health Corporation (previously CVS Corporation and CVS Caremark Corporation) is an American healthcare company that owns CVS Pharmacy, a retail pharmacy chain; CVS Caremark, a pharmacy benefits manager; and Aetna, a health insurance provider, among many other brands. The company's headquarters is in Woonsocket, Rhode Island. CVS Health is the world's seventh largest company by revenue and ranks 7th on the Fortune Global 500 list.

Consumer Value Stores (CVS) was founded in 1963 by three partners: brothers Stanley and Sidney Goldstein and Ralph Hoagland, who grew the venture from a parent company, Mark Steven, Inc., that helped retailers manage their health and beauty aid product lines. The business began as a chain of health and beauty aid stores, but within several years, pharmacies were added. To facilitate growth and expansion, the company joined the Melville Corporation, which managed a string of retail businesses. Following a period of growth in the 1980s and 1990s, CVS Corporation spun off from Melville in 1996, becoming a standalone company trading on the New York Stock Exchange as CVS.

In December 2017, CVS agreed to acquire Aetna for $69 billion and completed the acquisition in November 2018. Legal issues related to the merger were resolved in September 2019.

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