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Hospital Corporation of America - Definition and Overview |
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The Hospital Corporation of America (HCA) (NYSE: HCA (http://www.nyse.com/about/listed/lcddata.html?ticker=HCA)) is the largest private operator of health care facilities in the world. It is based in Nashville, Tennessee, United States and is considered to be the single largest factor in making that city a hotspot for healthcare enterprise.
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.
In the late 1990s, after a merger with Columbia Health Systems, the company was investigated by the government for Medicare and Medicaid fraud and was forced to pay a large fine. The CEO resigned but no criminal prosecutions resulted.
Curiously, HCA has abandoned the use of its name in its home market and instead promotes its Nashville hospitals under the Tri-Star brand.
External links
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