HCA Inc.

Hospital Corporation of America or HCA, a privately held company headquartered in Nashville, Tennessee, is the largest for-profit hospital operating company in the U.S. Overall the company has 169 hospitals and115 outpatient surgery, diagnostic imaging, cancer and rehabilitation centers in 20 states and the United Kingdom. Approximately three-quarters of the hospitals are located in the southern U.S., primarily Florida and Texas. Five hospitals are in the United Kingdom.

Besides the national headquarters, the company has four medical centers named Centennial, Summit, Southern Hills and Skyline all found in Davidson County, part of Nashville. There are five other HCA hospitals in the Middle Tennessee region. The nine are part of HCA’s Tri Star Health System Division.

In 2007 HCA had revenues of $26.9 billion and assets estimated at $24 billion. There are about 180,000 total employees.

HCA History

Since 1968, when Dr. Thomas Frist Sr., Dr. Thomas Frist Jr. and Jack C. Massey formed the hospital management company Hospital Corporation of America to operate Park View Hospital in Nashville, the company has grown substantially and undergone many changes.

In 1969, with 11 hospitals, HCA became publicly traded. By the end of the year the company had 26 hospitals. During the next two decades the corporation grew considerably by acquiring hundreds of hospitals and companies including General Care Corporation, General Health Services, Hospital Affiliates International and Health Care Corporation. At the end of 1981 the HCA operated 349 hospitals.

By 1987, the company, with 463 hospitals, spun off 104 hospitals into a separate company. Believing the stock to be undervalued in 1988, the company completed a $5.1 billion leverage buyout to become private. In 1992 HCA became a public corporation again.

In 1994 the company merged with Columbia Hospital Corporation to form Columbia/HCA. The new corporation acquired more organizations and became a comprehensive health care network with 350 hospitals, 145 outpatient centers, 550 home care agencies, several other medical related businesses and 285,000 employees..

After being investigated by Federal agencies in the late 1990s for insurance/accounting issues and paying a fine of $1.7 billion to the government, Columbia/HCA was compelled to revert to its name of Hospital Corporation of America.

In 2006 a group of investors took the company private in a $30 billion leverage buyout. HCA growth strategy today is to acquire or develop more outpatient and imaging centers.

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