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Capstone logistics boise idaho for money capstone microturbine generators c1000 hp noah surf report port aransasa tx ´╗┐Hospital Corporation of America is an American for-profit operator of healthcare facilities the largest in the world it is based in Nashville Tennessean currently manages 162 hospitals and 113 freestanding surgery centers in the United States and United Kingdom history early years HCA was founded in 1968 in Nashville Tennessee by dr. Thomas F frist senior Jack C Massey and dr. Thomas F frist jr. frist SR is the father of former US Senate Majority Leader Bill Frist Melton 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 on the New York Stock Exchange 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 growth and merger 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 five point three dollars a billion in a management buyout led by chairman Thomas F list jr. and completed a successful initial public offering in the 1990s in 1993 HCA merged with Louisville based Columbia hospital Corporation to form Columbia HCA in April 1998 Birmingham Alabama based health south corporation announced it was acquiring the majority of HCA surgical division broadened investigation 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 two billion dollars to HCA this made it the largest fraud settlement in US history on March 19 1997 investigators from the FBI the Internal Revenue Service and the Department of Health and Human Services served search warrants at Columbia HCA facilities in El Paso and on dozens of doctors with suspected ties to the company following the raids the Columbia HCA Board of Directors for strikes got to resign as chairman and CEO he was paid a settlement of nine point eight eight million dollars and left with ten million shares of stock worth over 350 million dollars mostly from his initial investment in 1999 Columbia HCA changed its name back to HCA incorporated HCA also admitted fraudulently billing Medicare and other health programs by inflating the seriousness of diagnosis and to giving doctors partnerships and company hospitals is a kickbacks for the doctors referring patients to HCA they filed false cost reports for Dylan Lee billing Medicare for home health care workers and paid kickbacks in the sale of home health agencies and to doctors to refer patients in addition they gave doctors loans never intended to be repaid free rent free office furniture and free drugs from hospital pharmacies after Scott stepped down frist jr. returned as chairman and CEO he called on longtime friend and colleague Jack Oh bull vendor jr. to help him turn the company around frist and bull vendor who became CEO in 2001 pulled off what Fortune magazine called a remarkable corporate rescue in settlements reached in 2000 and 2002 Columbia HCA pleaded guilty to 14 felonies they admitted systematically overcharging the government by claiming marketing costs as reimbursable striking illegal deals with home care agencies and filing false data about use of hospitals in late 2002 HCA agreed to pay the US government 631 million dollars plus interest and pay seventeen point five million dollars to state Medicaid agencies in addition to two hundred fifty million dollars paid up to that point to resolve outstanding Medicare expense claims in all civil lawsuits cost HCA more than two billion dollars to settle by far the largest fraud settlement in US history the name subsequently reverted to hospital Corporation of America HCA abandoned the use of its name in its home market and instead promotes its Nashville hospitals under the TR I star brand on July 1st 2005 Senator frist sold all of his HCA shares two weeks before disappointing earnings sent the stock on a nine-point plunge frist claimed that he sold his shares to avoid the appearance of a conflict of interest if he ran for president other executives sold their stock at the same time shareholders sued HCA alleging that the company made false claims about its profits to drive up the price which then fell when the company reported disappointing financial results eleven of HCA senior offices were sued for accounting fraud and insider trading HCA settled the lawsuit in August 2007 agreeing to pay $20 million to the shareholders recent history in 2006 Kohlberg Kravis Roberts and Bain Capital together with Merrill Lynch and the frist family completed a 31-point $6 a billion acquisition of the hospital company making the company privately held again seventeen years after it had first been taken private in a management buyout at the time of its announcement the HCA buyout was the first of several to set new records for the largest eclipsing the 1989 buyout of RJR nabisco it would later be surpassed by the buyouts of equity office properties and TXU on Friday May 7th 2010 HCA announced that the corporation would once again go public with an expected 4.6 billion dollars IPO facilities as of 2012 HCA operated 162 hospitals and 113 freestanding surgery centers located in 20 US states and London the London sites include the Harley Street clinic the Lister Hospital London Bridge Hospital the Portland Hospital for women and children the Princess Grace Hospital and the Wellington Hospital in July 2007 HCA sold its hospitals in Switzerland the Princess Grace Hospital specializes in breast cancer and surgery aided by Professor thermocouple and dr. Nick Perry who in 2005 founded the London breast Institute see also HCA Midwest division Rick Scott former chairman and CEO and governor of Florida Jack bull vendor former chairman and CEO references notes July 2006 US hospital firm bought for thirty three billion dollars BBC news July 24 2006 retrieved September 9 2010 a a b HC a fact sheet 2012 a B dr. Thomas frist senior HCA founder dies at 87 New York Times January 8 1998 HC a facebook page photo HC a facebook page photo Cruden hime melt by outset for chain of hospitals the New York Times November 22nd 1988 US expands search of Columbia HCA in Texas the New York Times ur two leaders are out at health giant as inquiry goes on New York Times July 1997 Courtin Tristram rick scott profits off the uninsured salon.com retrieved august 15 2013 a hospital firm ousts its founder columbia HCA tries to stop slide free online library fee free library can't rely 26th 1997 retrieved August 15 2013 a disaster of the day HCA Forbes December 15 2000 the risk of choosing Scott herald-tribune calm retrieved August 15 2013 are bringing HCA back to life after years of scandal the hospital chain is healthy again and might just be a by Fortune magazine Appleby Julie HCA to settle more allegations for 631 million dollars USA Today ur HTTP www.hp.com 1 Salkin Andrew Ross HCA by out highlights era of going private New York Times July 25th 2006 HCA sell Switzerland hospitals Nash for business journal june 20th 2007 further reading lots sandy g e preston columbia HCA healthcare on overdrive mcgraw-hill ISBN aoo 702 for 804 fora external links corporate page capstone project ideas Hamilton College.

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