Hospital Corporation of America

The Hospital Corporation of America (HCA) {{nyse|HCA}} is the largest private operator of health care facilities in the world. It is based in Nashville, Tennessee, United States and is widely considered to be the single largest factor in making that city a hotspot for healthcare enterprise.

Related Topics:
Health care - Nashville - Tennessee - United States

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The founders included two members of the Frist family, which became very wealthy as a result. The current majority leader of the U.S. Senate, Bill Frist is a member of the family and has a substantial stake in the company. Most of his $20 million (or more) personal fortune was made through his holdings in HCA.

Related Topics:
Frist family - Majority leader - U.S. Senate - Bill Frist

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In the late 1990s, after a merger with Columbia Health Systems, the company was investigated by the government for Medicare and Medicaid fraud and paid a settlement of $1.7 billion, the largest fraud settlement in US history. The CEO resigned but no criminal prosecutions resulted.

Related Topics:
1990s - Columbia Health Systems - Medicare - Medicaid

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Curiously, HCA has abandoned the use of its name in its home market and instead promotes its Nashville hospitals under the Tri-Star brand.

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On June 13, 2005, Senator Frist reportedly instructed the trustee managing his HCA shares to sell all of his stock. The sale took place in July, two weeks before disappointing earnings sent the stock on a 15-point plunge.

Related Topics:
June 13 - 2005

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