But Cramer sees there is one group that is even better than a regular healthcare company—the healthcare roll-up. These are the consolidation companies that use serial acquisitions to fuel rapid growth.
"The great thing about this model is that serial acquirers can keep growing as long as they can keep doing deals—they're not hostage to the vicissitudes of the economy, and that goes double if they're operating in a secular growth sector like healthcare," Cramer added. (Tweet This)
Why is the business model of a drug company so compelling?
Unlike other industries, when a new product is invented in the pharma space, it has a limited lifespan. Patents on drugs typically only last around 20 years, but it takes a really long time to develop the drugs and get them through the FDA approval process. But as soon as the drug loses patent protection, revenues practically disappear overnight as generic competitors with lower price points come out to feed.
"That is why drug companies cannot afford to rest on their laurels. They're like sharks—they have to keep swimming forward or they'll die," Cramer said.
With this in mind, the "Mad Money" host selected Actavis, Horizon Pharma, Mallinkrodt and Valeant as his faves in the space.
Read More Cramer: Serial acquirers raking in major dough
The financial sector also rallied hard on Friday, which made Cramer wonder—could that mean other stocks will start to rally as well? Could they provide investors with real leadership in the market?
"Almost my entire lifetime as an investor, the answer would have been yes, the financials can be excellent leaders," the "Mad Money" host said.
Historically, banks climbing higher signals a strengthening economy. This group would be the catalyst for retail, autos, construction and all job-creating activities that would get the economy buzzing.
"So, take heart that a part of the stock market rallied hard today, but don't confuse that part with a stronger economy," Cramer said.
How will you know when the economy is getting stronger? Once important groups like transports and industrials are doing better, and the dollar gets weaker, the banks will no longer be an empty leadership suit.
Cramer no longer sees this correlation; these days, banks are simply indicative of interest rates going higher without any sign of actual demand for money. Meaning, the bullish action in the banks is just predicated on the flow of funds in and out of U.S. bonds based on what people think the Fed will do—not economic activity.
Read MoreCramer: Are financials the key to a rally?
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Chesapeake Energy: "No. Come on, we have to play with a full deck! Don't buy."
Caterpillar Inc: "Caterpillar is troubled here, because it is too linked to China which I think is slowing down. However, I would pull the trigger at $82 or $83. At $86 I think you've only got a four point upside and I want more upside."
Read MoreLightning Round: It's linked to China, and troubled