In fact, profits at the health care industry giant HCA, which controls 163 hospitals from New Hampshire to California, have soared, far outpacing those of most of its competitors.
The big winners have been three private equity firms — including Bain Capital, co-founded by Mitt Romney, the Republican presidential candidate — that bought HCA in late 2006.
HCA’s robust profit growth has raised the value of the firms’ holdings to nearly three and a half times their initial investment in the $33 billion deal.
The financial performance has been so impressive that HCA has become a model for the industry. Its success inspired 35 buyouts of hospitals or chains of facilities in the last two and a half years by private equity firms eager to repeat that windfall.
HCA’s emergence as a powerful leader in the hospital industry is all the more remarkable because only a decade ago the company was badly shaken by a wide-ranging Medicare fraud investigation that it eventually settled for more than $1.7 billion.
...what it says to me, someone in the referenced age bracket, is that Ryan wants the Federal Government to pay us back what we are owed for what we already paid, and to correct the system for what is needed to serve future generations.
« Older In Siberia, several frozen human burials dating to... | The Rise And Fall Of Grunge Ty... Newer »
This thread has been archived and is closed to new comments
Buy a Shirt