February 17, 2000 |
The Justice Department accused Columbia/HCA Healthcare Corp. of Medicare fraud at nine south Florida hospitals in the government's sixth lawsuit against the nation's largest hospital chain. The lawsuit, originally brought by a former reimbursement manager with the company, accuses the hospitals of overbilling Medicare for home health-care services by more than $10 million. It seeks more than $30 million in damages.
May 24, 1994 |
Continuing its frantic merger activity, Columbia/HCA Healthcare Corp. agreed Monday to acquire Dallas-based Medical Care America, an operator of outpatient surgery centers, in a stock transaction valued at more than $860 million. Columbia/HCA said the merger, pending federal and shareholder approval, would expand its operations in key markets, especially in California, Florida and Texas, by adding 96 outpatient centers that offer oncology, orthopedics, cardiology and other services.
CALIFORNIA | LOCAL
September 30, 1997 |
Judy Frumkin's bubbly voice still can be heard on the family's telephone answering machine, but the 38-year-old wife and mother of two daughters now lies in a vegetative state in a hospital critical care unit. On Sept. 5, the Anaheim Hills woman underwent what was expected to be simple outpatient surgery to remove scar tissue associated with a previous breast implant removal.
April 30, 1998 |
The federal investigation of Columbia/HCA Healthcare Corp. expanded to Las Vegas on Wednesday when state and federal agents conducted a search of Sunrise Medical Center, Nevada's biggest hospital. Agents from the state's Medicaid fraud division and the FBI conducted a search of the Columbia-owned hospital in connection with a criminal investigation of the facility, Nevada Atty. Gen. Frankie Sue Del Poppa confirmed.
August 9, 1997 |
Columbia/HCA Healthcare Corp. said Friday that its first-ever chief financial officer, Robert Stearns, who began work just three weeks ago, has resigned. Columbia offered no reason for the resignation, effective Aug. 31. The largest U.S. hospital chain said only that Stearns, a former Dial Corp. executive and investment banker, had been hired by "previous management." Neither Stearns nor other company executives could immediately be reached for comment.
July 3, 1999 |
Two executives of Columbia/HCA Healthcare Corp., the largest U.S. for-profit hospital operator, were found guilty Friday in a $3-million Medicare fraud, while another executive was acquitted and the jury failed to reach a verdict on a fourth. The federal court jury found defendants Jay Jarrell and Robert Whiteside guilty on six of the seven counts against them.
February 7, 1998 |
Columbia/HCA Healthcare Corp., the target of a massive federal investigation, on Friday said it expected to report a loss in the fourth quarter, suggesting the world's largest health-care company may be much sicker than previously thought. Columbia said it expects the loss to be $1.25 billion to $1.35 billion in the fourth quarter. Stock in Columbia fell $1.69 to close at $24.38 in heavy trading on the New York Stock Exchange.
May 8, 1996 |
Columbia/HCA Healthcare Corp. said Tuesday that first-quarter profit rose 16% on strong gains in inpatient admissions and the addition of new hospitals during the quarter. Louisville, Ky.-based Columbia, the nation's largest hospital operator, said it had net income of $416 million, or 92 cents a share, compared with $358 million, or 80 cents, in the year-earlier period. Per-share earnings matched the average estimate of Wall Street analysts.
August 14, 1997 |
Shares of Columbia/HCA Healthcare Corp. plunged nearly 4% on Wednesday in heavy trading on reports of more troubles for the hospital chain as the government intensifies its industrywide health-care fraud investigation. Justice Department spokeswoman Carole Florman confirmed Wednesday that federal prosecutor Kathleen Haley has named the Nashville-based company itself--in addition to individual employees--as a target of the probe.
August 16, 1997 |
Columbia/HCA Healthcare Corp. has received queries from companies wanting to buy parts of its far-flung network of health-care businesses, Chief Operating Officer Jack Bovender said Friday. Bovender said in an interview that potential buyers, including HealthSouth Corp., have approached the company but that Columbia isn't in talks with any of them. In addition to its 342 hospitals and 570 home-health sites, Columbia runs skilled-nursing, rehabilitation and outpatient-surgery businesses.