Ross said he hopes to invest at least $1 billion “or hopefully a good deal more” into the newly created private-equity firm, Crawford-Ross, during an interview on CNBC.
Health reform will create investment opportunities, he said. “We think this very complex legislation that was put through by the administration will create a whole bunch of new winners and losers and what's involved is 16% of the entire economy, so there's a lot of stuff to look at,” Ross said during the interview.
Crawford told CNBC it's unclear which companies will gain or lose from the legislation. “We're going to be patient,” he said. “We're going to find the winners, hopefully.” Asked about the newly appointed head of CMS Donald Berwick, Crawford replied “I think that we're all trying to right now look and see what we think is going to happen under his leadership.”
“The bottom line still is we've got a population that demographically will consume more healthcare in the future,” Crawford said during the interview. “I think the real challenge comes as to where it gets consumed. To me that's going to be the opportunity. Because we cannot afford to continue to put people in hospitals and let them stay there for long periods of time. We've got to find different settings for them to get their care. And we've got a much broader population base that will be covered now, which really creates the opportunity, but also creates a big challenge. There's no doubt in that."
Ross said the joint venture will target healthcare services and delivery rather than products, but Crawford said hospitals may not be a major focus of investment.