James M. Sweeney

Sweeney has worked in the healthcare industry for over six decades. When Sweeney was 15, he worked in a hospital supply room.[3] After graduating from high school in San Diego, California, Sweeney joined the Army Medical Corps, as a Combat Medic.[4] In 1969, Sweeney graduated from San Diego State University and, shortly after, was hired by Baxter Travernol.

He has founded fourteen health care product and service companies,(none of which have failed) including Caremark, Coram, and CardioNet. Each company emanated from his “never been done before, first mover advantage” idea.

CVS acquired Caremark in 2007 for $24 billion and Coram in 2013 for $2.1 billion. CardioNet(BioTelemetry) was sold to Philips in 2021 for $2.8 billion.

More importantly, his companies have been responsible for extending or saving the lives of millions of people. 

Jim has successfully taken four companies public, led an LBO resulting in a 650% return to investors and 77% IRR in less than four years, raised over $2 billion in financing for his various companies including $500 million in venture capital, $700 million in debt financing and $400 million in two IPO’s. The $2 billion invested resulted in $30 billion exit value. 

He has been involved in buying, selling or taking public over 20 healthcare product and service companies.  

His recognition includes two Ernst & Young Entrepreneur of the Year awards as well as being inducted into the World Hall of Fame.  Alumnus of the year recognition from his alma mater San Diego State University, Corporate Directors Forum, Lifetime achievement award and recipient of Triple Tree iAwards for Connected Health. 

He has been acknowledged as the founder of the multi-billion dollar home infusion therapy industry, having founded Caremark, the industry pioneer and leader.  Jim’s serial entrepreneurship, was also the subject of a laudatory, Page One Wall Street Journal article. 

As a serial entrepreneur, Sweeney is responsible for creating multiple companies in the healthcare field: Caremark, CarePartners, CareGivers, Central Admixture Pharmacy Services, McGaw Coram, Bridge Medical, CardioNet,[5] Intellidot[6] most recently, HomeFront Healthcare.[7]

According to an article in the New York Times, Sweeney founded Caremark (originally Home Health Care of America) after he “... realized that a considerable number of hospital patients requiring intravenous therapy and nutrition did not really need to be hospitalized.” Furthermore, “[p]arenteral, or nondigestive, feeding could be  done at home … freeing patients and their insurers from uncomfortable, expensive hospital stays.”[3]

On August 3, 1987, Caremark was sold to Baxter Laboratories Inc. for approximately $600 million.[2]