Stan­ford dropout joins ranks of big­gest U.S. health ty­coons

Modern Healthcare - - OUTLIERS ASIDES & INSIDES -

Not ev­ery col­lege dropout be­comes a suc­cess. And then there’s El­iz­a­beth Holmes, who stands out among healthcare bil­lion­aires on the latest Forbes 400 rank­ing as the “youngest self-made fe­male bil­lion­aire” in the world. Forbes also dubs her No. 1 among “Amer­ica’s self-made women.”

Ranked No. 5 among U.S. healthcare bil­lion­aires, the 31-year-old is worth $4.5 bil­lion thanks to Ther­a­nos, the com­pany she founded in 2003 af­ter drop­ping out of Stan­ford Univer­sity in her sopho­more year.

Ther­a­nos of­fers a sim­pler, cheaper way to per­form blood tests, and ev­ery nook within the healthcare in­dus­try has taken no­tice. Wal­greens Boots Al­liance, Cleve­land Clinic, Cap­i­tal Blue Cross and sev­eral other or­ga­ni­za­tions have teamed up with Holmes and Ther­a­nos to of­fer the ser­vice, which in­volves a sin­gle prick of blood and has a quick turn­around time.

The other new face this year among the five rich­est peo­ple in the U.S. healthcare sec­tor is Carl Cook, 53, CEO of Cook Group, a med­i­cal-de­vice com­pany founded by his par­ents. He ranks No. 3 among U.S. healthcare bil­lion­aires.

Cook’s $5.8 bil­lion bankroll is tied to the work his par­ents, Bill and Gayle, built over the past half cen­tury. They founded Cook Group in 1963 in their Bloom­ing­ton, Ind., apart­ment and even­tu­ally turned it into one of the largest, pri­vate med­i­cal-de­vice man­u­fac­tur­ers in the world. Af­ter Bill died in 2011, Carl took over and in­her­ited the fam­ily’s ac­crued wealth.

Phar­ma­ceu­ti­cal and tech­nol­ogy mogul Dr. Pa­trick Soon-Shiong and HCA hos­pi­tal chain founder Dr. Thomas Frist Jr. re­tained their re­spec­tive No. 1 and 2 spots as the the na­tion’s rich­est healthcare ex­ecs. Soon-Shiong’s net worth is $12.9 bil­lion, while Frist’s val­u­a­tion comes in at $8.7 bil­lion. Ran­dal Kirk, founder of a biotech­nol­ogy firm, also stayed in the top five with a money pot worth $5 bil­lion, mak­ing him No. 4 among U.S. healthcare bil­lion­aires.

Forbes crowned Holmes as Amer­ica’s

No. 1 self-made woman.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.