Welcome to House Calls, where we talk to investment bankers from Cain Brothers, a division of KeyBank Capital Markets Inc. These bankers are working in some of the most interesting segments of healthcare, with organizations and business models that are helping to change the US healthcare industry. Host David Johnson is a recovering investment banker who discovered he’s actually a journalist and started 4sight Health, a thought leadership and advisory company. Johnson leads the conversation a ...
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House Calls


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Kickstarting Innovation Part 2: Why Health Systems and PE Need Each Other
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34:28
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Why now? Once a rarity, today, health systems and private equity are increasingly working together to transform health system operations through new strategic partnerships. Cain Brothers’ President Wyatt Ritchie joins Dave to discuss the forces bringing private equity and health systems together to power value creation and system transformation. Ca…
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Kickstarting Innovation Part 1: Bringing Health Systems and Private Equity Together for Good
35:50
35:50
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35:50
How should health systems fundamentally rethink their strategies, capital sources and partnerships? Cain Brothers’ President Wyatt Ritchie and Managing Director Dave Morlock join Dave to discuss insights and perspectives from the first-ever health system private equity (PE) collaboration conference hosted by Cain Brothers in Nashville in June. Cain…
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Promises and Perils of Healthcare Innovation: A Conversation with Dr. Zeke Emanuel
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As one of the chief architects of the Affordable Care Act – signed into law 13 years ago last week – and a healthcare thought leader today, Dr. Zeke Emanuel understands how healthcare policy gets forged, how crisis continues to create opportunity, and how innovation can break through industry inertia to transform business and care delivery models. …
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The Bold Predictions Podcast: U.S. Healthcare in 2023 and Beyond
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Value-based care, consolidation, digital transformation, healthcare-at-home… Cain Brothers’ President Rob Fraiman joins Dave to talk about bold predictions for healthcare in 2023 – and how health systems are rethinking their business models and capital formation strategies to survive and thrive in an era of turbulence and opportunity. Cain Brothers…
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Reimagining Healthcare Staffing: Partnership-focused, Data-informed, Nurse-centric
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Volatile labor costs, increased margin pressures, an ever-growing competition for nurses… what’s a health system to do? Cain Brothers’ Managing Director Andy Goldberg joins Dave to talk about health systems’ need for more dynamic, comprehensive workforce strategies, and the innovative staffing companies helping them meet the challenges to come. Cai…
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House Calls


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Overlooked and Underfunded: Dental Care’s Massive Potential to Serve Disadvantaged Populations
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19:55
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Millions of Medicare and Medicaid beneficiaries lack access to dental care – a situation that not only affects their health and well-being but also increases America’s overall healthcare costs. Cain Brothers’ Director Jenny Watson joins Dave to talk about the role that private equity- and venture-backed dental providers and benefits administrators …
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Home Medical Equipment Providers and the Promise of Value-Based Care
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Stephen Griggs, the CEO of AdaptHealth, joins Cain Brothers’ Managing Director Andy Goldberg and Dave Johnson for a lively discussion about the important role that home medical equipment providers can play in supporting value-based care delivery in the home. Cain Brothers is a division of KeyBanc Capital Markets.…
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Home is Where the Healing Happens: Uniting Medicare Advantage Payers and Providers to Create Value
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The market for home-based care delivery is growing rapidly, but what do providers and payers need to succeed in delivering high-quality care that serves patients/beneficiaries in the home? Cain Brothers’ Managing Director Matt Margulies joins Dave to talk about the challenging referral and payment dynamics impeding better care, and new models for b…
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House Calls


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Learning to Thrive: Integrating Mental Health Services within K-12 Education
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24:53
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How can we better meet the mental, emotional and behavioral health needs of America’s children and teenagers? Cain Brothers’ Director Erika Haanpaa joins Dave to discuss the surge in mental health conditions in young people and the innovative mental health provider organizations offering high-quality services through schools. Cain Brothers is a div…
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Fixing America’s Aching Backs, Bones and Joints: Orthopedic Care in the Digital Health Era by Ricky Ng and Dave Johnson
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24:07
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Oh, my aching back! Cain Brothers’ Director Ricky Ng joins Dave to discuss the new wave of digital companies working to meet U.S. healthcare’s enormous need for earlier, more effective musculoskeletal (MSK) care. Cain Brothers is a division of KeyBanc Capital Markets.By Cain Brothers, a division of KeyBanc Capital Markets
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Fishing for Returns in Turbulent Waters: Healthcare Investors Adapt to New Competitors and Greater Risk
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33:21
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How are healthcare investors navigating the increasingly competitive and dynamic healthcare investment marketplace? Cain Brothers’ Directors Stacy Guffanti and Mike Elizondo join Dave to talk about what they learned from seasoned investors at leading PE and VC firms. Cain Brothers is a division of KeyBanc Capital Markets.…
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Looking Back, Looking Forward: A Golden Age of Healthcare Innovation?
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25:29
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Cain Brothers’ President Rob Fraiman and Dave look back on 2021, another remarkable year in U.S. healthcare investment and M&A activity, and debate the trends and market dynamics driving industry investment and innovation in 2022 and beyond. Cain Brothers is a division of KeyBanc Capital Markets.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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The Many Roads to Value Part IV: Building The Last Mile to the Patient
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On our last talk on the road to value, Cain Brothers’ Managing Director Bryan Cloncs and Dave cross the digital bridge to patient communication and connection, and gaze toward the future of true patient engagement and tech-enabled consumer-focused healthcare. Cain Brothers is a division of KeyBanc Capital Markets.…
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House Calls


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All Roads Lead to Value Part III: Making Inroads in Rural America
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22:13
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Taking the scenic route on the road to value, Cain Brothers’ director Colby Kittrell joins Dave to talk about promising public and privately-funded initiatives bringing value-based care to underserved communities in rural America. Cain Brothers is a division of KeyBanc Capital Markets.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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Moving Healthcare Home and Beyond: A Conversation with Paul Kusserow, Chairman and CEO of Amedisys
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46:59
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As part of Cain Brothers’ 8th annual Healthcare Conference, Dave Johnson interviewed Amedisys CEO, Paul Kusserow, on his unusual approach to healthcare leadership and his company’s remarkable turnaround story in the dynamic home health sector. Cain Brothers is a division of KeyBanc Capital Markets.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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All Roads Lead to Value Part II: Positioning Physicians to Manage Care Risk
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19:41
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The road to value continues. In our second installment, Cain Brothers’ Director Mike Elizondo joins Dave to talk about risk-services organizations, a new breed of MSO enabling physician groups to participate in risk-based contracts while remaining independent. Cain Brothers is a division of KeyBanc Capital Markets.…
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The Many Roads to Value Part I: What is a Health System Supposed to Be?
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In 2020, vertically-integrated tax-exempt health systems outperformed traditional health systems financially, and offered more evidence of the advantages of value-based payment models in an increasingly consumer-driven marketplace. Cain Brothers’ Director David Levine talks with Dave Johnson about five models innovative health systems are pursuing …
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Medicaid, Motherhood and America’s Future: Giving Birth to Better Maternity Outcomes
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Medicaid funds almost half of all births in the U.S, yet the overall maternal mortality rate is dismal. Cain Brothers' Christian Pesci and Women's Health USA's Andrea Balogh join Dave Johnson to discuss innovative models and value-based reforms that are improving care quality, safety, experience and cost for millions of new mothers and their babies…
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Stigma vs. Science: Overcoming Opioid Addiction with Evidence-based Treatments and Services
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14:56
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Though the COVID pandemic dominated headlines, substance abuse and opioid-related deaths spiked dramatically in 2020. Cain Brothers’ Director Erika Haanpaa talks with Dave Johnson about the distinct challenges of opioid addiction and new treatments and services creating hope for a better future. Cain Brothers is a division of KeyBanc Capital Market…
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Health Systems Embrace Platforming and Innovative Financing Strategies
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To compete in dynamic, consumer-centric markets, not-for-profit health systems must build broad, asset-light service platforms, despite the limits of traditional financing. Cain Brothers’ Co-Head of Health Systems M&A, Dave Morlock talks with Dave Johnson about innovative capital formation tools that support strategic growth and investment flexibil…
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House Calls


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The Many Flavors of Healthcare’s Not-For-Profit/For-Profit Partnerships
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19:08
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Investors and sponsors increasingly look for M&A and JV opportunities with not-for-profit health systems and plans, even as NFP organizations seek outside funding for their strategic and financial goals. Cain Brothers’ M&A practice Director, Stacy Guffanti talks with Dave Johnson about the rise of healthcare’s not-for-profit/for-profit partnerships…
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House Calls


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The Worst and Best of Times: Investor Perspectives from Cain Brothers’ Healthcare 2020 Virtual Conference
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27:28
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Cain Brothers’ President, Rob Fraiman discusses how healthcare Private Equity and growth investors navigated an unprecedented year, and why they are optimistic about growth and a better healthcare system in 2021 and beyond. Cain Brothers is a division of KeyBanc Capital Markets. Cain Brothers is a division of KeyBanc Capital Markets.…
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House Calls


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The Future of Clinical Trials: Decentralized, Diversified, Efficient and Fast
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23:30
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The race to develop a COVID-19 vaccine has put the clinical trial process under the microscope. Cain Brothers Managing Director, John Kerins, talks with Dave Johnson about innovations in clinical trials that reduce the barriers to participation, improve the diversity of patient populations, and accelerate the development of safe and effective vacci…
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House Calls


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Podcast: The Future of Hospitals in Post-COVID America (Part 2) – The Policy Response
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34:19
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Dave Morlock, Managing Director at Cain Brothers’ Health Systems M&A Group, and Bart Plank, the firm’s Co-Director of Healthcare Public Finance, debate the future of hospitals in markets challenged by social determinants of health and fiscal and operational pressures.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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Podcast: The Future of Hospitals in Post-COVID America (Part 1) – The Market Response
27:47
27:47
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The Co-Heads of Cain Brothers’ Health Systems M&A Group, Carsten Beith and James Moloney, discuss Black Swans, Gray Rhinos and the Future of Hospitals in Post-COVID America.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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Home Health Is Where the Growth Is: The Post-COVID Rise of Platform Solutions
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29:40
The Home Health Care sector is poised for major growth and consolidation in the Post-COVID era. Matt Margulies, Managing Director at Cain Brothers, a Division of KeyBanc Capital Markets, talks with Dave Johnson about the forces changing this sector. Technology, consumer demand, payment reform, and new platform business models are increasing care qu…
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House Calls


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COVID-19: Healthcare Private Equity Executives on Life with COVID
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Join Wyatt Ritchie, Managing Director at Cain Brothers, as he interviews the following healthcare private equity executives to discuss life with COVID-19 and investment strategies moving forward: Benjamin Edmands, Managing Partner & Co-Founder, Consonance Capital Partners Marty Felsenthal, Partner, Health Velocity Capital Gregory Moerschal, Managin…
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COVID-19: CareMont Medical CEO & CFO talk with Rob Fraiman, Cain Brothers
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19:10
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Join Rob Fraiman, President of Cain Brothers, as he interviews Scott Hayworth, M.D., CEO of CareMount Medical, and Kevin Conroy, CFO and Chief Population Health Officer of CareMount in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how CareMount Medical is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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COVID-19: Terry Akin, CEO of Cone Health, talks with Carsten Beith, Cain Brothers
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Join Terry Akin, CEO of Cone Health and Carsten Beith, Managing Director at Cain Brothers, in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how Cone Health is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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COVID-19: Steve Rodgers, AccentCare, speaks with Matthew Margulies, Cain Brothers
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Join Steve Rodgers, CEO of AccentCare, and Matthew Margulies, Managing Director at Cain Brothers, in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how AccentCare is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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COVID-19: Healthcare PE Executives on Impact & Influence on Investing
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John Soden, Managing Director at Cain Brothers, a division of KeyBanc Capital Markets, discusses the challenges of and investment strategies in the COVID-19 crisis with healthcare private equity executives. Ben Magnano, Managing Partner, Frazier Healthcare Partners Dan Agroskin, Managing Director & Mgnt Committee Member, JLL Partners Tony Davis, Pr…
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COVID-19: James Hereford, Fairview Health Services, speaks with Dave Morlock, Cain Brothers
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Join James Hereford, President & CEO of Fairview Health Services and Dave Morlock, Managing Director at Cain Brothers, in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how Fairview Health Services is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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House Calls


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COVID-19: Paul Markovich, Blue Shield of CA speaks with Court Houseworth, Cain Brothers
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Join Paul Markovich, President & CEO at Blue Shield of California and Court Houseworth, Managing Director at Cain Brothers, in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how Blue Shield of California is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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COVID-19: Dr. Steve Udvarhelyi, BCBS of Louisiana speaks with Mike Elizondo, Cain Brothers
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Join Dr. Steve Udvarhelyi, CEO & President of Blue Cross and Blue Shield of Louisiana and Mike Elizondo, Director at Cain Brothers in a discussion of the COVID-19 pandemic, its impact on the healthcare sector and how Blue Cross and Blue Shield of Louisiana is responding.By Cain Brothers, a division of KeyBanc Capital Markets
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Public Health & Healthcare in Post-COVID America. Court Houseworth, Cain Brothers
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Innovative Solutions for a Healthier, More Prosperous Society Court Houseworth, Managing Director at Cain Brothers, and Kyle Stern, Managing Partner at Healthscape Advisors, join Dave Johnson to discuss the long-term impact of social determinants on individual and community health, and innovative companies addressing those public health disparities…
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House Calls


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Podcast: Health Tech to the Rescue: Combatting COVID-19 with Virtual Care and Predictive Analytics
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27:09
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Jill Frew, Managing Director of the healthcare technology practice at Cain Brothers, a division of KeyBanc Capital Markets, discusses how technology companies, many of them start-ups, are helping to meet the vast needs of the U.S. healthcare system in the midst of battling COVID-19.By Cain Brothers, a division of KeyBanc Capital Markets
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A Fireside Chat w/Beth Mooney, Chairman/CEO of KeyCorp, and Tom Mihaljevic, MD, President & CEO of Cleveland Clinic
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Beth Mooney, Chairman and CEO of KeyCorp, and Tom Mihaljevich, President and CEO, Cleveland Clinic, joined Cain Brothers’ President Rob Fraiman for a fascinating discussion at Cain Brothers’ Annual Healthcare Conference on October 24, 2019. The three CEOs debated value-based care, the challenges of scaling delivery, and the employers’ responsibilit…
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Podcast: A Fireside Chat w/Beth Mooney, Chairman/CEO of KeyCorp, and Tom Mihaljevic, MD, President & CEO of Cleveland Clinic
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Beth Mooney, Chairman and CEO of KeyCorp, and Tom Mihaljevich, President and CEO, Cleveland Clinic, joined Cain Brothers’ President Rob Fraiman for a fascinating discussion at Cain Brothers’ Annual Healthcare Conference on October 24, 2019. The three CEOs debated value-based care, the challenges of scaling delivery, and the employers’ responsibilit…
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Podcast: 2020 Observations and Insights, Healthcare’s Recent Trends and Future Direction
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34:56
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Cain Brothers’ President, Rob Fraiman, looks back at Healthcare in 2019 and makes some bold predictions for 2020. He also shares the origin of the annual Cain Brothers’ College Championship Game Party at the JP Morgan Healthcare Conference in San Francisco. The post Podcast: 2020 Observations and Insights, Healthcare’s Recent Trends and Future Dire…
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Podcast: Widen the Funnel and Close the Gaps: The Summit-CityMD Combo Sees “Big Apple” Opportunity through Integrated Care Delivery
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Cain Brothers’ Managing Director, Carsten Beith; Warburg Pincus Managing Director, TJ Carella; and Summit Medical Group CEO, Dr. Jeffrey Le Benger joined Dave Johnson at Cain Brothers’ Annual Healthcare Conference on October 23, 2019, to discuss the recent merger between CityMD and Summit Medical Group. The combination of the leading urgent care cl…
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House Calls


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Podcast: Commercializing Breakthrough Drugs in a Value-Based Market
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What does it take to bring a breakthrough drug to a value-based market? John Kerins, Director at Cain Brothers, a division of KeyBanc Capital Markets Inc., and David Johnson discuss the intensified need for data, collaboration and communication to bring exceptionally costly but desperately needed therapies to market. They hone in on the growing rol…
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Podcast: Mission-Critical Repurposing: Converting Aging Senior Living Properties to Affordable Housing
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Bill Pomeranz, Managing Director at Cain Brothers, a division of KeyBanc Capital Markets Inc., and David Johnson dive into the plight of senior living facilities around the country that haven fallen into reduced use, disrepair and abandonment. They look at a conversion process that can benefit sponsors struggling with declining properties by meetin…
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Podcast: Win-Win Partnerships: Strategics and Sponsors Increasingly Team Up
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John Soden, Managing Director at Cain Brothers, a division of KeyBanc Capital Markets Inc., and David Johnson talk about a new breed of innovative partnerships between strategic buyers and private equity sponsors who join forces to execute complex win-win transactions. They discuss the structures of a variety of pioneering deals that have proven ef…
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Podcast: Getting Urgent about Urgent Care: Health Systems Go Big on Retail
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27:04
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Wyatt Ritchie, Managing Director at Cain Brothers, a division of KeyBanc Capital Markets Inc., and David Johnson discuss the rise of urgent care clinics that are meeting market demand for convenient, high quality “retail care.” They look at how strong partnerships between health systems and entrepreneurial urgent care operators foster success for t…
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