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Health care industrypage director: contributors: Pisano, Hernan if you are interested in contributing see here
Health Care Industry
Trend: Medical Tourism set to grow
Companies reviewed by KookyPlan:
Health - business ideas:
Health Insurance:
The Health Insurance industry pricing is correlated with risk. Premiums paid by clients are based on statistically significant predictors of future usage of services. Among the more relevant predictors used to define premiums are:
(a) Age –the older you are, the more likely you are of use this services, the higher the premium (b) Gender –pregnancy potential rises female premiums (c) previous usage of services and preexisting conditions.
The industry is very competitive for the healthiest (lowest risk) population. However, the industry has NOT used one well-known predictor of future usage: exercise patterns. The current Medical Research suggests that individuals who exercise 3 times a week for a total of 200 minutes have a statistically significant less health risk exposure. Approximately 30 million of U.S. individuals fit this pattern. Being able to identify, capture and retain the healthiest clients that exercise on a permanent basis has not been done systematically by the Health Insurance industry. As a consequence, exercise-prone individuals are paying higher premiums than they should, since they are assumed to have the same risk level than the rest of the population. This is an incorrect assumption. Read more about this concept on NextLogics website here
VC activity:
Evalve pulls in $60M, heating up heart-valve implant raceSee our story about this Menlo Park, Calif., medical-device maker at VentureBeat Life Sciences.
HCA = Americas largest hospital operator, is being purchased (07-2006) by Kohlberg Kravis Roberts (KKR), Bain Capital and Merrill Lynch…for $21 billion + 11.7 in debt = $33 billion . HCA runs 182 hospitals in 24 states, with annual revenues of over $24 billion. Rival bid might come from Blackstone group. HCA’s founders – the frist family (think Bill Frist, Republican). Back in 1989 HCA was taken private, and then “flipped” back to the equity markets within 4 years. This years revenue 2nd quarter = $295 million, down from $405 million a year ago. About half of payments come from government, which is fighting to contain costs. HCA would be hard hit if politicians get round to reforming health care system. (less likely if Frist gets to be president). Goldman Sachs points out that profits have been squeezed even has revenues have grown, because costs at American hospitals are soaring. They increased by 48% between 1997 and 2005 (according to Solucient, a research firm). Not primarily because of higher drug costs, but because of more expensive medical devices and higher salaries. Also, because of bad debts associated with uninsured patients…up to almost 18% of revenues in 2005 at publicly traded hospitals such as HCA (up from 12% in 2003). Trimming expenses (for KKR) will be difficult. HCA has already been through two rounds of cost cutting in recent years. KKR plans on keeping company for 5-10 years, expecting to invest up to $7.5 billion in new capital.
Source = The Economist July 29th, 2006
TOP HOSPITALS COMPANIES BY MARKET HCA Inc. HCA 20.05 Billion Health Management Associates HMA 5.01B Triad Hospitals Inc. TRI 3.66B Community Health Systems, Inc. CYH 3.44B Universal Health Services Inc. UHS 3.17B Tenet Healthcare Corp. THC 2.79 Lifepoint Hospitals Inc. (LPNT) 1.9B Magellan Health Services Inc. (MGLN) 1.7B AmSurg Corp. (AMSG) 669.9M MedCath Corp. (MDTH) 465.7M Rehabcare Group Inc. (RHB) 282.0M PainCare Holdings Inc. (PRZ) 126.1M Dynacq Healthcare Inc. (DYII) 29.6M
Medical Supply Industry
A majority of the companies in The Medical Supplies Industry seem to be somewhat recession resistant. Aging populations and individuals afflicted with associated health issues highlight the need for the goods and services these companies provide. Indeed, in times of economic stress, a lot of medical companies provide beacons of hope to investors wary of economically sensitive investments. Although these companies have experienced some problems (such as rising operational expenses, reimbursement issues, and consumer cutbacks) they are better situated than most during periods of cyclical stress.
Hospital Supply companies
Hospital Supply companies: who are the main competitors? Regional?
07/2006 - Drug and medical-equipment distributor McKesson Corp. (MCK) has agreed to sell its hospital supplies business to Owens & Minor Inc. (OMI) for $170 million. Owens & Minor, a medical- and surgical-supply distributor based in Richmond, Va., expects its acquisition of the acute-care division of McKesson's medical-surgical supply business to generate at least $800 million in annual revenue after a six-month transition. Owens called the revenue estimate conservative, given that the business generated $1 billion for McKesson last year. Owens & Minor will acquire inventory valued at nearly $130 million and fixed assets, and will assume McKesson's hospital-supply customer contracts under terms of the agreement. The companies expect the sale to close in the fourth quarter, subject to regulatory review. San Francisco-based McKesson had previously announced its plans to seek alternatives for the business. The company said its medical-surgical unit will continue to serve the "alternate site" market, which includes physician offices, clinics, surgery centers, nursing homes, home-care businesses and occupational-health facilities. Pediatrix Medical Group, Inc. (PDX) announced the acquisition of a neonatal physician group practice in Lancaster, California
Ratings Online: Patients and concerned family members can now use any of several web sites to check on the quality of hospitals before checking in for treatment. Subimo, at www.subimo.com , gets high marks for its ease of use. It sells subscriptions to major employers and health plans, whose members can then log in. Other sites include HealthGrades, www.healthgrades.com , Medicare’s Hospital Compare at www.hospitalcompare.hhs.gov and United Healthcare’s www.myUHC.com, designed to be used by the millions of patientswho are covered by United.
Adventist Health System (AHS), sponsored by the Seventh-day Adventist Church, is one of the largest not-for-profit Protestant health care organizations in the U.S. It operates 38 hospitals in ten states, totaling over 6,300 beds; 23 nursing homes with over 2,500 beds; and over 20 home health care agencies, collectively serving over 4 million patients annually. Its flagship organization, Florida Hospital, is the largest health care provider in central Florida and a national leader in cardiac care. The hospital is also known for cancer care, neuroscience, orthopedics, organ transplants, limb replantation, sports medicine, rehabilitation and women's medicine.
Health Management Associates, Inc. operates a network of acute care hospitals primarily in the rural southeastern and southwestern United States. The company operates 57 hospitals, consisting of 55 acute care hospitals, …. general surgery, internal medicine, obstetrics, emergency room care, radiology, oncology, diagnostic care, coronary care, pediatric services…
Source: Plunkett Research online – 8-2006
Pediatrix Medical Group, Inc. (PMG) is a provider of physician services at more than 240 hospital-based neonatal intensive care units. Its main function is to connect physicians, of which it has 860 contracted, with advanced practitioners, of which it has 350. The firm's affiliate, Obstetrix Medical Group, is a body of maternal-fetal medicine specialists, who are committed to caring for high-risk pregnant women and critically ill newborns. The Pediatrix University facilitates much of the knowledge that is practiced by Obstetrix professionals. The firm's web site, natalu.com, is an online community for neonatal and perinatal clinical discussion, education and professional development. Pediatrix Screening, a subsidiary, operates the nation's largest independent laboratory specializing in newborn metabolic screening. PMG also provides physician services at hospital-based pediatric intensive care units and pediatrics departments in hospitals, including 24-hour coverage with on-site or on-call physicians. These doctors are also available to provide pediatric support to other areas of hospitals on an as-needed basis. The firm provides its services in 32 states and Puerto Rico. The company also staffs and manages perinatal practices, which involve the operation of outpatient offices as well as the management of inpatient maternal-fetal care. PMG's database compiles patient information into best-practice models for its members. In September 2005, the firm acquired a neonatal physician group practice based in Spokane, Washington. In August 2006, PMG acquired a neonatal group practice based in Richmond, Virginia. Pediatrix offers its employees preventative health care checkups, credit union membership and an employee assistance program that features confidential counseling
PSS World Medical, Inc. markets and distributes medical products to physicians, alternate-site imaging centers, long-term care providers, home care providers and hospitals. Its 42 service centeres guarantee access to markets in all 50 states. Through strategic acquisitions and internal growth, the company has become a leader in the market segments it serves. PSS's Physician Sales and Service subsidiary is a leading distributor of medical supplies, equipment and pharmaceuticals to over 50% of office-based physician practices in the U.S. The subsidiary carries over 81,000 different medical products, representing 1,000 manufacturers. The firm's other main division, Gulf South Medical Supply, Inc. (GSMS), is a leading national distributor of medical supplies and related products to the nursing and long-term care industry, though 14 strategically located distribution centers. GSMS's market includes a large number of independent operators, small to mid-sized local and regional chains and several national chains. GSMS has a private label known as Select Medical Products, which includes items such as wound care supplies, needles and syringes, gauze, sutures, gloves, urological supplies and blood and urine testing equipment. The firm also supplies hospital beds, patient-lifts, wheel chairs, oxygen-concentrators, walkers, patient aids and bath safety products. Many of the company's wholesalers are located overseas throughout China, Thailand, Malaysia, India and the Philippines. Employees of PSS are entitled to an assistance program, a legal access plan and flexible spending accounts. www.pssd.com
Rotech Healthcare, Inc. is one of the largest providers of home medical equipment and related products and services in the U.S., with a comprehensive offering of respiratory therapy and durable home medical equipment and related services. It provides equipment and services in 48 states through approximately 490 operating centers located primarily in non-urban markets. The company supplies its equipment and services principally to older patients with breathing disorders, such as chronic obstructive pulmonary diseases, or COPD (which include chronic bronchitis and emphysema), obstructive sleep apnea and other cardiopulmonary disorders. Rotech's revenues are derived principally from respiratory equipment rental and related services, making up 87% of Rotech's revenues. Respiratory equipment includes oxygen concentrator rentals, liquid oxygen systems, portable oxygen systems, ventilator therapy systems, nebulizer equipment, sleep disorder breathing therapy systems and the sale of nebulizer medications. Rotech also rents and sells durable medical equipment, including hospital beds, wheelchairs, walkers, patient aids and ancillary supplies, which generate about 11% of revenues annually. www.rotech.com
SRI/Surgical Express, Inc., doing business as SRI Surgical, provides central processing and supply chain management services to hospitals and surgery centers throughout the U.S. The company helps health care providers balance their needs for quality, safety, efficiency and cost-effectiveness by providing a unique combination of outsourced instrument supply and processing services, high-quality reusable and disposable surgical products (including gowns, towels, drapes and basins) and a comprehensive case cart management system. The company collects, sorts, cleans, inspects, packages, sterilizes and delivers its products on a just-in-time basis. It complements its products with cost-effective disposable accessory packs and individual sterile disposable items. SRI also offers an integrated closed-loop reprocessing service that uses two of the most technologically advanced reusable textiles for gowns and drapes: a Gore surgical barrier fabric, which is breathable yet liquid-proof and provides a viral and bacterial barrier; and an advanced microfiber polyester surgical fabric, which is liquid- and bacteria-resistant. SRI continues to develop additional instrument procedure programs, including one for laparoscopic procedures. The firm serves approximately 400 hospitals and care centers in 25 states. In February 2006, SRI announced a multi-year exclusive agreement to distribute Owens & Minor's Implant Tracking System to the tissue banking industry. Using barcode technology, Owens & Minor's Implant Tracking System enables clinicians to track bone and tissue implants, monitor expiration dates on implants and rapidly identify implant recipients in case of recalls. The firm's employee benefits include a prescription program, savings bonds and educational assistance. www.surgicalexpress.com
Shares in Bastide, the French medical equipment distributor, closed up 0.63 per cent yesterday in Paris, at 79.50 euros. Bastide's net profit doubled during 2004/05,to reach 2.48m euros China-based medical equipment distributor and producer also expanding to overseas markets SourceOne has emerged as a major distributor of traditional medical imaging supplies, equipment and service, and equipment options for PACS, digital radiology for women's health, and digital systems for hospitals, specialty clinics, physicians and veterinarians. The company recently signed a contract with IDC, giving SourceOne nationwide distribution rights to a line of direct digital radiography (DR) solutions for hospitals and orthopedic centers 2004 SEP 8 - (NewsRx.com & NewsRx.net) -- TMC HealthCare and Medline Industries, Inc. have signed a multi-year supply distribution agreement in which Medline will act as Tucson Medical Center's primary supplier for medical and surgical supplies. The 3-year agreement is worth approximately $30 million in health care supplies and is expected to save TMC HealthCare about $2.1 million over the life of the agreement. The agreement will focus on driving savings on a multitude of medical and surgical products and services at 609-bed Tucson Medical Center. It will include distribution of Medline and non-Medline brand products. Medline is ISO 13485 registered and U.S. Food and Drug Administration QSR compliant. TMC HealthCare is a southern Arizona nonprofit hospital organization that includes Tucson Medical Center and El Dorado Hospital. Medline is a privately held manufacturer and distributor of medical supplies. https://www.medline.com/ -- good one!!
Concepts to consider(external links)
List of companies (external links)
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