LOBBY.VN
Administrator
HCA Healthcare Corporation
At its founding in 1968, Nashville-based HCA was one of the nation's first hospital companies. Today, we are the nation's leading provider of healthcare services, a company comprised of locally managed facilities that includes about 164 hospitals and 106 freestanding surgery centers in 20 states and Great Britain and employing approximately 183,000 people
Nearly five percent of all inpatient care delivered in the country today is provided by HCA facilities. Richard M. Bracken serves as Chairman and Chief Executive Officer of HCA, and R. Milton Johnson is the company’s President and Chief Financial Officer
HCA is committed to the care and improvement of human life and strives to deliver high quality, cost effective healthcare in the communities we serve
Building on the foundation provided by our Mission & Values, HCA puts patients first and works to constantly improve the care we give them by implementing measures that support our caregivers, help ensure patient safety and provide the highest possible quality. Investing in our communities is important to us. HCA typically invests about $1.5 billion annually to keep our facilities modern and up-to-date technologically and to expand and add services where needed. Focusing primarily on communities where the company is a leading healthcare provider, HCA selectively adds new facilities in order to better serve our communities
And because two HCA founders were physicians, we value highly the strong relationships we've created with local physicians. We endeavor to provide them with a wide array of services and modern facilities in order to help them deliver the best possible care
Our History
In the 1960s, Dr. Thomas Frist, Sr. led an effort by a group of physicians to build Park View Hospital in Nashville, Tenn. By the mid-1960s, Dr. Frist and other Park View physicians were seeking a group to manage the hospital and provide capital to expand and to maintain the latest medical technology. In 1968, Dr. Frist, Jack C. Massey and Dr. Thomas Frist, Jr. formed their own hospital management company — Hospital Corporation of America, today known simply as HCA
Soon HCA decided to expand the scope of its venture by assembling a group of hospitals, in order to create economies of scale and enhance the quality of care in communities across the country. One of the nation's first hospital companies, HCA worked closely with local physicians and used innovative business practices and private capital to improve quality and reduce costs. The company grew rapidly, building new hospitals in under-served communities, acquiring facilities and contracting to manage hospitals for other owners. Using its financial resources, management expertise and medical background, HCA focused on a core group of market-leading hospitals, an operating strategy it employs today
With 11 hospitals, HCA filed its initial public offering in 1969. By the end of the year, HCA had 26 hospitals and 3,000 beds. The company invested capital to ensure that hospitals met the needs of their local communities. And while HCA provided support and resources to its facilities, hospital management decisions were made locally
The 1970s were characterized by rapid growth in the industry and also for HCA. In the early 1980s, the focus shifted to consolidation with HCA acquiring General Care Corporation, General Health Services, Hospital Affiliates International and Health Care Corporation. By the end of 1981, the company operated 349 hospitals with more than 49,000 beds. Operating revenues had grown to $2.4 billion
In 1987, HCA, which had grown to operate 463 hospitals (255 owned and 208 managed), spunoff HealthTrust, a privately owned, 104-hospital company. Believing its stock was undervalued, the company completed a $5.1 billion leveraged buyout in 1988. HCA re-emerged as a public company in 1992
In February 1994, HCA merged with Columbia, which had acquired Galen Health Care (formerly Humana) in September 1993. The new company then acquired Medical Care America and several other healthcare businesses, quickly building a comprehensive healthcare network
At its peak, the $20 billion company had approximately 285,000 employees, more than 350 hospitals, 145 outpatient surgery centers, 550 home care agencies and several other ancillary businesses
In 1997, Dr. Frist, Jr. returned as Chairman and CEO and immediately announced plans to restructure the company and focus on providing high quality healthcare through a core group of market leading hospitals. HCA sold its non-hospital businesses as well as several facilities that did not fit the company's strategy. In May 1999, HCA completed the spin-offs of LifePoint and Triad Hospital groups
In 2002, HCA began a new focus on identifying and sharing best clinical and operational practices to improve patient safety that included improving medication safety, preventing hospital-acquired infections, eliminating kernicterus and improving ER wait times
On November 17, 2006, HCA became a private company for the third time when it completed a merger in which the company was acquired by a private investor group including affiliates of Bain Capital, Kohlberg Kravis Roberts & Co. and Merrill Lynch Global Private Equity, and HCA founder Dr. Thomas F. Frist, Jr. The total transaction was valued at approximately $33 billion, making it the largest leveraged buyout in history at the time
HCA celebrated its 40th anniversary in 2008 and also celebrated another milestone: the company now delivered 5 percent of all hospital care in America. Chairman Jack Bovender announced his plans to retire and that Richard M. Bracken would take over as CEO in January 2009. Bracken becomes Chairman of the Board in December, 2009
HCA files a registration statement for Initial Public Offering of approximately $4 billion shares of common stock in May, 2010. In 2011, the company returned to the New York Stock Exchange with the largest private equity-backed IPO to date
Currently, Richard M. Bracken serves as Chairman and Chief Executive Officer of HCA, and R. Milton Johnson is the company’s President and Chief Financial Officer
Based in Nashville, Tenn., today HCA remains the nation’s leading provider of healthcare services. HCA is composed of locally managed facilities that include approximately 163 hospitals and 105 freestanding surgery centers in 20 states and England
HCA's strategy includes
Putting patients first
Investing in our communities
Focusing on leading hospitals in core communities
Improving local operations through efficient use of resources
Building strong physician relationships
Lobby & HCA Holdings