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Hca Hospital Corp Of America

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BUSINESS
October 5, 1993 | From Times Staff and Wire Reports
About four months ago, an upstart health care company called Columbia Hospital Corp. made history by fashioning a $3.2-billion merger that transformed it into the nation's largest for-profit hospital chain. Columbia has done it again--this time combining with HCA-Hospital Corp. of America to create a $10-billion monolith--illustrating the health care industry's urgency to position for reform.
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BUSINESS
July 26, 2006 | From Reuters
Investment firm Blackstone Group may trump a $21-billion agreed takeover of HCA Inc., the No. 1 U.S. hospital chain, the Times of London reported. Preparations are at an early stage but Blackstone is thought to have been working on an offer for about two weeks, the newspaper said, citing sources close to the New York-based firm. A Blackstone spokesman in New York declined to comment on the newspaper report.
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BUSINESS
October 17, 2002 | Don Lee, Times Staff Writer
In a setback for Tenet Healthcare Corp., rival hospital giant HCA Inc. said Wednesday that it has agreed to buy Health Midwest, a 14-hospital chain based in Kansas City, Mo., for $1.13 billion. Santa Barbara-based Tenet and HCA were the two finalists in a rare opportunity to acquire, in one swoop, a dominant hospital system in a growing urban market. The 20-member board of Health Midwest, a nonprofit company that has been struggling financially, said it voted unanimously to go with HCA.
BUSINESS
July 25, 2006 | Daniel Yi, Times Staff Writer
Monday's announcement that the country's largest hospital chain agreed to be acquired by private investors shows long-term optimism about an industry that has been battered by bad news in recent years, analysts said. Nashville-based HCA Inc. -- which owns 276 hospitals and surgery centers, including nine facilities in California -- agreed to be bought for $21.3 billion. The proposed buyers include private equity firms, HCA's management and the chain's founding family.
BUSINESS
August 26, 2003 | From Bloomberg News
Berkshire Hathaway Inc., billionaire Warren E. Buffett's investment company, in June bought 10 million shares of hospital company HCA Inc. worth $317 million, state regulatory filings show. The shares were purchased by Berkshire's Geico Corp. auto insurance unit, according to state regulators that oversee the insurer. Berkshire didn't list the stock on its June 30 filing with the Securities and Exchange Commission. Shares of Nashville-based HCA, the largest U.S.
BUSINESS
October 25, 2001 | Bloomberg News
HCA Inc.'s third-quarter profit rose 47% as the biggest U.S. hospital chain attracted more patients and raised the prices it charges managed-care insurers. Net income rose to $256 million, or 48 cents a share, from $174 million, or 31 cents, a year earlier, the company said. Revenue rose 8.4% to $4.44 billion. Some investors were disappointed that profit only matched analysts' estimates, sending HCA's shares down 5.7%.
NATIONAL
October 3, 2005 | Ronald Brownstein, Ronald Brownstein's column appears every Monday. See current and past columns on The Times' website at latimes.com/brownstein.
Ethical tempests often expose problems that extend beyond the individuals involved. Whether or not Rep. Tom DeLay (R-Texas) is convicted of conspiring to evade Texas campaign finance laws, for instance, his indictment highlights the Sisyphean difficulty of controlling the flow of money into politics. An even bigger story is buried in the dust-up over whether Senate Majority Leader Bill Frist (R-Tenn.) skirted the law when his financial trust unloaded his holdings in HCA Inc.
BUSINESS
July 24, 2006 | From Reuters
HCA Inc. is expected to be acquired by an investor group for about $21 billion in one of the largest leveraged buyouts in history, sources familiar with the situation said. The buyout group includes HCA management, the chain's founding family, the Frists, and Bain Capital, Kohlberg Kravis Roberts & Co. and Merrill Lynch & Co., said the sources, who declined to be identified. The deal would rank behind the buyout of RJR Nabisco in 1988 for more than $29 billion.
BUSINESS
January 9, 2001 | Associated Press
HCA-The Healthcare Co., the nation's largest for-profit hospital chain, named Chief Operating Officer Jack O. Bovender Jr. its new chief executive. Bovender, 55, also will continue as president, a position he has held since August 1997. Dr. Thomas F. Frist Jr., one of the company's founders, is giving up the chief executive title, but he will remain chairman.
BUSINESS
August 17, 2002 | Bloomberg News
HCA Inc., the biggest U.S. hospital chain, said it is investigating possible kickbacks paid to physicians by two of its six hospitals in Britain. The payments, which total $20,000, were discovered last month and may be a violation of the company's code of conduct and U.S. laws, HCA said in a filing with the Securities and Exchange Commission. The company did not disclose the hospital names.
BUSINESS
July 24, 2006 | From Reuters
HCA Inc. is expected to be acquired by an investor group for about $21 billion in one of the largest leveraged buyouts in history, sources familiar with the situation said. The buyout group includes HCA management, the chain's founding family, the Frists, and Bain Capital, Kohlberg Kravis Roberts & Co. and Merrill Lynch & Co., said the sources, who declined to be identified. The deal would rank behind the buyout of RJR Nabisco in 1988 for more than $29 billion.
NATIONAL
October 3, 2005 | Ronald Brownstein, Ronald Brownstein's column appears every Monday. See current and past columns on The Times' website at latimes.com/brownstein.
Ethical tempests often expose problems that extend beyond the individuals involved. Whether or not Rep. Tom DeLay (R-Texas) is convicted of conspiring to evade Texas campaign finance laws, for instance, his indictment highlights the Sisyphean difficulty of controlling the flow of money into politics. An even bigger story is buried in the dust-up over whether Senate Majority Leader Bill Frist (R-Tenn.) skirted the law when his financial trust unloaded his holdings in HCA Inc.
NATIONAL
September 27, 2005 | Jonathan Peterson, Times Staff Writer
In his first public comments about two federal investigations into the sale of his stock in the healthcare company HCA, Senate Majority Leader Bill Frist (R-Tenn.) insisted Monday that he had done nothing wrong and said legal advisors had approved his actions in advance.
BUSINESS
April 6, 2004 | From Bloomberg News
HCA Inc., the largest U.S. hospital operator, must pay $26.5 million to two former contract workers who claimed the company defamed them and harmed their attempt to start a competing business, a Tennessee jury said. Alexander Batsuk and Ryan Howard were working for outside contractors doing business with HCA's information technology and services unit when they tried to set up their own company, their attorney said.
BUSINESS
February 4, 2004 | From Bloomberg News
HCA Inc., the biggest U.S. hospital chain, swung to a profit in the fourth quarter. Net income was $317 million, or 63 cents a share, contrasted with a net loss of $102 million, or 20 cents, a year earlier, when HCA had costs to settle a U.S. fraud case, the company said. Revenue rose 11% to $5.6 billion. HCA is battling competition from specialized surgery centers and is trying to collect more money from patients without health insurance.Shares of Nashville-based HCA fell $1.26 to $45.
BUSINESS
August 26, 2003 | From Bloomberg News
Berkshire Hathaway Inc., billionaire Warren E. Buffett's investment company, in June bought 10 million shares of hospital company HCA Inc. worth $317 million, state regulatory filings show. The shares were purchased by Berkshire's Geico Corp. auto insurance unit, according to state regulators that oversee the insurer. Berkshire didn't list the stock on its June 30 filing with the Securities and Exchange Commission. Shares of Nashville-based HCA, the largest U.S.
BUSINESS
June 2, 2001 | Bloomberg News
Four hospitals run by HCA-The Healthcare Co., the biggest U.S. hospital chain, agreed to pay $1.9 million to settle allegations they improperly billed Medicare for operations using experimental cardiac devices, the Justice Department said. The hospitals used devices that hadn't been approved by the Food and Drug Administration when the procedures were done between 1987 and 1994, the department said.
BUSINESS
May 21, 2002 | Associated Press
A shareholder lawsuit against current and former executives of HCA Inc., the nation's largest for-profit hospital company, was given new life by a federal appeals court panel. Shareholders in the class-action suit alleged in 1997 that they were defrauded by management of the Nashville-based company, then called Columbia/HCA Healthcare Corp., which saw stock prices plunge after federal agents raided offices and hospitals amid a wide-ranging fraud investigation.
BUSINESS
June 27, 2003 | From Associated Press
HCA Inc. and Justice Department officials signed an agreement Thursday that calls for the hospital firm to pay $631 million in civil penalties and damages to settle Medicare fraud charges. The settlement, announced in December, resolves what federal officials called the department's most comprehensive health-care fraud investigation. It brings HCA's fines and penalties over the years to $1.7 billion.
BUSINESS
February 5, 2003 | From Reuters
Hospital chain HCA Inc. agreed Tuesday to overhaul its corporate governance under a settlement with state pension funds. "The corporate governance plan being adopted by HCA significantly raises the bar on accountability for all of corporate America," New York Comptroller Alan Hevesi said.
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