The Top 10 Largest Healthcare Companies

The healthcare sector is a massive and constantly evolving industry. It encompasses a wide range of companies, from those that develop and manufacture pharmaceuticals and medical devices to those that provide health insurance and other medical services.

This article dives into the ten largest healthcare companies in the United States based on revenue, as of December 21, 2022. It highlights their core businesses, financial performance, and interesting facts to provide a well-rounded picture of the leading players in this crucial sector.

1. CVS Health Corp. (CVS): A Pharmacy Powerhouse

Topping the list is CVS Health Corp., a titan in the pharmacy retail and benefits management space. With a staggering $315.2 billion in revenue, CVS boasts a vast network of drugstores across the United States. Beyond traditional pharmacy services, CVS has established itself as a leader in pharmacy benefits management (PBM), acting as an intermediary between drug manufacturers, insurers, and pharmacies.

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The company is committed to a holistic approach to healthcare, with its CVS HealthHUBs and MinuteClinic locations offering convenient access to primary care services and consultations with healthcare professionals.

2. UnitedHealth Group Inc. (UNH): A Healthcare Giant

UnitedHealth Group, boasting $313.1 billion in revenue, is a behemoth in the health insurance industry. Beyond providing health insurance plans, UnitedHealth offers a comprehensive suite of services, including data analytics and consulting for healthcare providers and pharmacy care services.

The company’s structure revolves around four key divisions: UnitedHealthcare, the core health insurance business; OptumHealth, a network of healthcare facilities; OptumInsight, the data analytics arm; and OptumRx, specializing in pharmacy care services. This diversified approach positions UnitedHealth as a comprehensive solution provider for the healthcare needs of individuals and businesses alike.

3. McKesson Corp. (MCK): The King of Distribution

The Top 10 Largest Healthcare Companies

McKesson Corp., with a revenue of $272 billion, reigns supreme in the distribution of pharmaceuticals and medical products. Operating across the United States, Canada, and Europe, McKesson acts as a vital link between biopharmaceutical companies, healthcare providers, pharmacies, manufacturers, and governments. Their services encompass product and service delivery to a vast network spanning 14 countries.

4. AmerisourceBergen Corp. (ABC): A Leader in Medical Supplies

AmerisourceBergen Corp., with a revenue of $238.6 billion, is another major player in the medical supply distribution landscape. The company focuses on ensuring people have access to the healthcare products they need by facilitating product sourcing and distribution. They also support community-based healthcare and collaborate with manufacturers to bring new products to market.

5. Cardinal Health Inc. (CAH): A Global Medical Powerhouse

Cardinal Health, with a revenue of $187 billion, is a diversified company with a global presence. They operate as a manufacturer and distributor of medical and laboratory products, while also offering performance and data solutions for healthcare facilities.

Cardinal Health’s extensive reach extends to 90% of all U.S. hospitals and a significant portion of specialty physician offices and clinics, making it a critical player in the healthcare supply chain.

6. Cigna Corp. (CI): Global Healthcare Services

Cigna Corp., with a revenue of $180 billion, stands out as a global healthcare services company. They boast a network of healthcare providers, clinics, and facilities, catering to customers and patients in over 30 countries. Cigna’s focus on comprehensive healthcare delivery makes it a significant force in the global healthcare market.

7. Elevance Health (ELV): Promoting Whole Health

Elevance Health, with a revenue of $153.2 billion, champions the concept of whole-person healthcare throughout every life stage. They offer health plans, clinical services, behavioral health solutions, pharmacy services, and complex care solutions. Through its affiliates, such as Anthem and Wellpoint, Elevance Health provides a wide range of health insurance options for individuals, families, employers, and communities.

8. Centene Corp. (CNC): A Managed Healthcare Specialist

Centene Corp., with a revenue of $141.6 billion, is a specialist in managed healthcare, particularly focusing on administering government-sponsored programs.

Their acquisition of WellCare Health Plans Inc. significantly bolstered their market share in Medicaid, Medicare Advantage, and Medicare Prescription Drug Plans across all 50 states. Centene plays a crucial role in ensuring access to healthcare for low-income individuals and families.

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9. Walgreens Boots Alliance Inc. (WBA): A Drugstore Legacy

Walgreens Boots Alliance, with a revenue of $132.7 billion, is a household name synonymous with drugstores. They operate a vast network

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