Hospital Corporation of America
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| Public | |
| Traded as | : HCA S&P 500 Component |
| Industry | Health care |
| Founded | 1968 |
| Headquarters | Nashville, Tennessee, United States |
|
Number of locations
|
168 Hospitals, 116 Surgery Centers, 121 Access Centers |
|
Area served
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United States and London |
|
Key people
|
R. Milton Johnson (CEO) |
| Revenue |
 US$39.678 billion (2015) |
| Profit |
US$2.129 billion (2015) |
|
Number of employees
|
204,000 |
| Website | hcahealthcare.com |
Hospital Corporation of America (HCA) is an American for-profit operator of health care facilities. It's based in Nashville, Tennessee and currently manages 168 hospitals and 116 freestanding surgery centers in the United States and United Kingdom.
HCA was founded in 1968, in Nashville, Tennessee by Dr. Thomas F. Frist Sr., Jack C. Massey and Dr. Thomas F. Frist Jr.. Frist Sr. is the father of former U.S. Senate majority leader Bill Frist. Milton Johnson is the CEO of HCA.
The first hospital that HCA owned was Park View Hospital, near downtown Nashville. The small group of founders worked out of a small house not far from Park View for the first few years of operation.
In 1969, HCA conducted its first Initial Public Offering (IPO) on the (NYSE). As HCA grew, the small house that served as office space for the company no longer provided enough space. In 1972, the company built a new office to house corporate operations behind Centennial Park in Nashville.
During the 1970s and 1980s the corporation went through a tremendous growth period acquiring hundreds of hospitals across the United States which numbered 255 owned and 208 which HCA managed.
In 1988, the hospital operator was acquired for $5.1 billion in a management buyout led by Chairman Thomas F. Frist, Jr. and completed a successful initial public offering in 1992. In 1993 HCA merged with Louisville-based Columbia Hospital Corporation to form Columbia/HCA. In April 1998, Birmingham, Alabama-based HealthSouth Corporation announced it was acquiring the majority of HCA's surgical division.
In 1997, the company was part of a fraud investigation initiated by a number of governmental departments in the United States. Later that year, Rick Scott resigned as chairman. He later became the 45th and current Governor of Florida. The case was settled in 2002 at a reported cost of $2 billion to HCA. This made it the largest fraud settlement in US history.
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Wikipedia