The health care sector is the strongest growth area in the United States.
The Health Care target is comprised of two niches: medical services and medical equipment. Medical services include hospital care, ambulatory health care services (e.g. practitioner offices), and nursing and residential care facilities. Medical equipment allows opportunities in supporting medical services and health care consumers.
Waco’s medical sector is experiencing robust growth with $330 million in expansion since 2005, and health and education employment reaching 18 percent of the economy.
The diverse sector is anchored for accredited hospitals with clinic networks, the top-rated University of Texas family practice residency at the Family Health Center and the Central Texas Veterans Administration Health Center.
Waco is also located within 200 miles of the majority of Texas’ major medical centers. Additionally, Waco’s health care sector includes pharmaceutical and medical education product manufacturers Allergan and Gaumard Scientific, respectively. The sector is supported by a base of wholesale and service firms. About 50 percent of a hospital’s cost is labor and about 20 percent is supplied. Greater Waco is in a natural location for the manufacturing and distribution of health-related products.
Waco’s two non-profit acute-care hospitals, Providence Healthcare Network and Baylor Scott & White Medical Center Hillcrest, are two of the top five employers in Greater Waco.
Health Care Companies
|Providence Healthcare Network||2,401|
|Baylor Scott & White Medical Center – Hillcrest||1,725|
|Veteran’s Administration Hospital||831|
|Family Health Center||488|
|Heart of Texas Region MHMR Center||480|
|Nurses Unlimited, Inc.||216|
|Scott & White Healthcare||173|
|Quality Care of Waco||142|