With four decades of investment banking experience and a focus on health care, Jim Cain knows the industry well.
The Harvard College graduate co-founded health care investment banking company Cain Brothers in New York City, New York, in 1982 with a focus on corporate and not-for-profit entities. In 2017, Cain Brothers was acquired by KeyBanc Capital Markets, Inc.
Cain’s relationship with Sanford Health started in 2010 through an introduction from a previous leader of what was then Sioux Valley Hospital.
In 2015, Cain joined the Sanford Health Board of Trustees.
Listen: An “Innovations” podcast conversation with Jim Cain
“It’s been a great experience,” he said. “The people at Sanford Health are exceptional in many ways. They’re smart, they’re hard-working but they’re genuine Americans and easy to work with.”
As a board member, Cain’s focus is on strategy.
“The financials speak for themselves,” he said. “You can look at the numbers and the volumes et cetera and make a determination. Those numbers are kind of in black and white, but strategy is increasingly important.
“I want to make sure I have my arms around exactly what (Sanford Health) is doing and why they’re doing it,” Cain explained. “And whether it’s the best use of their resources and time. Everybody only has 24 hours in a day, and you want to make sure you’re spending your time and resources wisely.”
Through the years, Cain has noticed a shift in health care from a community service to a business. He said when you take a step back, Sanford Health is still “incredibly dedicated” to the patient.
“Whether it’s someone in Sioux Falls or anywhere in the footprint, providing the best medical attention is a real priority for Sanford,” he said.
About the Board of Trustees
The Sanford Health Board of Trustees is a group of business, health care industry and community leaders responsible for governing the strategy and overall direction of Sanford Health.
Related: Meet Sanford Health Board of Trustees chair Neil Gulsvig
For a non-profit health care organization with nearly 50,000 employees and a region spanning 250,000 square miles, that’s no small task.
The 13-member board oversees governance for the health system, guiding the pursuit of Sanford’s mission and providing oversight of the organization’s strategic direction and financial and operational performance.
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Posted In Company News, Corporate Services & Administration, Leadership in Health Care