With four decades of investment banking experience and a focus on healthcare, Jim Cain knows the industry well.
The Harvard College graduate co-founded healthcare investment banking firm Cain Brothers in New York, New York, in 1982, focusing on corporations and nonprofit entities. In 2017, Cain Brothers was acquired by KeyBanc Capital Markets, Inc.
Cain’s relationship with Sanford Health began in 2010 with an introduction from a former executive at what was then Sioux Valley Hospital.
In 2015, Cain joined Sanford Health’s board of directors.
Listen: An “Innovations” podcast conversation with Jim Cain
“It was a great experience,” he said. “The people at Sanford Health are exceptional in so many ways. They’re smart, they work hard, but they’re real Americans and easy to work with.
As a board member, Cain focuses on strategy.
“The finances speak for themselves,” he said. “You can look at numbers and volumes and so on and make a decision. These numbers are sort of black and white, but strategy is increasingly important.
“I want to make sure I understand exactly what (Sanford Health) does and why they do it,” Cain explained. “And if it’s the best use of their resources and their time. Everyone only has 24 hours in a day, and you want to make sure you’re spending your time and resources wisely.
Over the years, Cain has noticed a shift in health care from a community service to a business. He said when you 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 care is a real priority for Sanford,” he said.
About the board
The Sanford Health Board of Directors is a group of business, healthcare industry and community leaders responsible for governing the strategy and overall direction of Sanford Health.
Related: Meet Sanford Health Board Chairman Neil Gulsvig
For a nonprofit health care organization with nearly 50,000 employees and a region spanning 250,000 square miles, this is no small task.
The 13-member board oversees the governance of the healthcare system, guiding the pursuit of Sanford’s mission and providing oversight of the organization’s strategic direction and financial and operational performance.
Posted in Company News, Healthcare Leadership