This is Exchanges the Goldman Sachs, where we discussed developments currently shaping markets, industries, in the global economy.

I'm Jake Seward, global head of corporate communications here at the firm.

Today we've got a special episode. We're going to talk about the health care industry from an

asset management perspective and how large health care

institutions and corporations are thinking about deploying capital in this

year. So to do that we're joined by Stephen Strine, chief investment officer

for the Cleveland Clinic, alongside

Padgett McCall, who is co-head of the America's institutional client business

within Goldman Sachs Asset Management or G-Sapp.

Stephen and Padgett, welcome to the program.

Thanks, Jake.

Thanks for having us.

Good afternoon.

2020 was obviously a major year for changes

in the health care industry.

Padgett, from an asset management perspective,

what were the top conversations you had with health care clients as we're

looking ahead to 2021? Sure. So let me start by just providing a little bit of context.

When we say our health care clients were specifically talking about

non-profit health care organizations and hospital systems in the U.S.

of the approximately 6,000 and hospital systems in the US.

Of the approximately 6,000 hospitals in the US,

...