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Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 35 mRNA development candidates in clinical studies as of August 2025. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.

Medline is the largest medical-surgical products and supply chain solutions provider in the US. The company generates over 90% of its revenue domestically and serves some of the largest US health systems. Medline offers approximately 190,000 Medline-branded products across more than 250 product families—including front line care, surgical solutions, and laboratory and diagnostics—as well as roughly 150,000 third-party products sourced from over 1,250 vendors. The company maintains prime vendor relationships with many customers, acting as the primary consolidated logistics partner for their medical-surgical needs. Medline has significant scale, supported by more than 30 manufacturing facilities and a fleet of over 2,000 owned delivery trucks. Medline went public in December 2025.

In spring 2024, 3M spun out its legacy healthcare segment as a stand-alone firm, Solventum. At that time, the firm comprised four segments. The smallest one—purification and filtration—has since been sold. Now, medsurg is the largest business, contributing roughly 64% of consolidated revenue, and includes advanced wound care and wound prevention. Dental solutions (restorative composites and orthodontia) and health information systems (mainly revenue cycle management) each contribute 18% of total revenue.

Elanco Animal Health, based in Greenfield, Indiana, provides products for both companion and food animals. It became the second-largest animal health company in the world following its acquisition of Bayer's animal health business. Founded in 1954 as part of Eli Lilly, it was spun off from Lilly through an IPO on September 24, 2018. Elanco sells its products in more than 90 countries and has a market capitalization of approximately $13 billion. The company has approximately 9,000 full-time employees.