Exclusive: Sen. Bill Frist’s Frist Cressey Ventures raises $425 million fourth fund

Healthcare in America is in rapid flux, and few would know that better than Sen. Bill Frist.

“Lots of people say: ‘With the policy so messed up in Washington right now, why in the world do you spend so much time thinking about it?’” he told Fortune. “It’s because I have a great belief that… the only way to get to large scale is good policy. I see the power of things like the Medicare Modernization Act, which introduced prescription drugs. Believe it or not, before that, prescription...