# HCA Healthcare, Inc.

Summary updated: 2026-03-19T01:31:34.38456Z
Canonical: https://finbar.com/research/companies/hca-healthcare

## Overview

HCA Healthcare, Inc. is a U.S.-centered healthcare services company that operates hospitals and outpatient care facilities. Founded in 1968 and headquartered in Nashville, Tennessee, the company describes itself as one of the leading healthcare services companies in the United States. Its core operations include general acute care hospitals, behavioral hospitals, rehabilitation hospitals, ambulatory surgery centers, endoscopy centers, and other patient care services, with a footprint spanning 20 states and England. As of December 31, 2024, HCA operated 190 hospitals, 124 freestanding ambulatory surgery centers, and 26 freestanding endoscopy centers. [1](https://app.finbar.com/go?id=P-ae4e6fdf6898456ea3408716f8516fec)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)

The company’s mission is: “Above all else, we are committed to the care and improvement of human life,” and it states that its primary objective is to provide a comprehensive array of quality healthcare services in a cost-effective manner. HCA is large in scale, reporting $70.603 billion in revenue for 2024, and it says it has approximately 316,000 colleagues and about 2,400 sites of care across its network. [3](https://investor.hcahealthcare.com/overview/default.aspx)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)[4](https://app.finbar.com/go?id=T-010c2638f12a4068ac59efcf6075be75)[5](https://www.hcahealthcareimpact.com/our-network/our-integrated-network-of-care/)
[1](https://app.finbar.com/go?id=P-ae4e6fdf6898456ea3408716f8516fec)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)[4](https://app.finbar.com/go?id=T-010c2638f12a4068ac59efcf6075be75)[3](https://investor.hcahealthcare.com/overview/default.aspx)[5](https://www.hcahealthcareimpact.com/our-network/our-integrated-network-of-care/)

## Products & services

HCA Healthcare’s offerings are primarily healthcare services delivered through hospitals and outpatient sites rather than discrete manufactured products. Its general acute care hospitals provide medical and surgical services including inpatient care, intensive care, cardiac care, diagnostic services and emergency services, and they also offer outpatient surgery, laboratory, radiology, respiratory therapy, cardiology and physical therapy. Across the broader network, HCA also operates ambulatory surgery centers, freestanding emergency care facilities, urgent care facilities, walk-in clinics, diagnostic and imaging centers, comprehensive rehabilitation and physical therapy centers, radiation and oncology therapy centers, physician practices, home health agencies, hospices and other outpatient facilities. The company also describes its core specialty coverage as including internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, along with diagnostic and emergency services. [6](https://app.finbar.com/go?id=P-0c16177c52c845c3acc1a6e3fe5b5d37)[7](https://app.finbar.com/go?id=P-2a5bd700e8b4497fba9695e21082e5eb)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)

More specialized service lines include behavioral health and rehabilitation. HCA’s behavioral hospitals provide therapeutic programs for child, adolescent and adult psychiatric care, plus adolescent and adult alcohol and drug abuse treatment and counseling; the company also states that behavioral services are delivered through inpatient, partial hospitalization and outpatient settings. In rehabilitation, HCA reports four rehabilitation hospitals and 71 hospital rehabilitation units, while its outpatient network includes comprehensive rehabilitation and physical therapy centers. [8](https://app.finbar.com/go?id=P-3c4b462b62344fe2b513dc6101e0a850)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)[9](https://app.finbar.com/go?id=P-77c88c7d502c499284945141de0f152e)[7](https://app.finbar.com/go?id=P-2a5bd700e8b4497fba9695e21082e5eb)

Scale metrics help indicate the relative weight of these services. At the end of 2024, HCA had 190 hospitals, 124 freestanding outpatient surgery centers and 26 freestanding endoscopy centers, with 49,985 licensed beds. In 2024 it recorded 9,789,265 emergency room visits, 1,024,998 outpatient surgeries and 540,704 inpatient surgeries, and outpatient revenues represented 38% of patient revenues. HCA also says certain affiliates provide supporting service capabilities such as patient safety programs, national supply contracts, equipment purchasing and leasing, financial and clinical systems, reimbursement assistance, construction planning and coordination, and information technology systems and solutions. [10](https://app.finbar.com/go?id=T-a7b65654a1804275905a2853f134527a)[11](https://app.finbar.com/go?id=P-d66f33e1633d494f9d8d1a5a9e49bc71)[12](https://app.finbar.com/go?id=P-66821affd8174c8694b0f10053bdc87c)
[6](https://app.finbar.com/go?id=P-0c16177c52c845c3acc1a6e3fe5b5d37)[7](https://app.finbar.com/go?id=P-2a5bd700e8b4497fba9695e21082e5eb)[2](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)[8](https://app.finbar.com/go?id=P-3c4b462b62344fe2b513dc6101e0a850)[9](https://app.finbar.com/go?id=P-77c88c7d502c499284945141de0f152e)[10](https://app.finbar.com/go?id=T-a7b65654a1804275905a2853f134527a)[11](https://app.finbar.com/go?id=P-d66f33e1633d494f9d8d1a5a9e49bc71)[12](https://app.finbar.com/go?id=P-66821affd8174c8694b0f10053bdc87c)

## Geographic presence

HCA Healthcare’s operations are concentrated in the United States, with facilities in 20 states, and it also operates in England. At December 31, 2024, the company reported 190 hospitals and 49,985 beds across Alaska, California, Colorado, Florida, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Missouri, Nevada, New Hampshire, North Carolina, South Carolina, Tennessee, Texas, Utah, Virginia, and England. The largest hospital concentrations were in Texas with 54 hospitals and 14,316 beds and Florida with 46 hospitals and 13,221 beds; other sizable footprints included Tennessee with 13 hospitals, Virginia with 11, and England with 8.[1](https://app.finbar.com/go?id=P-ae4e6fdf6898456ea3408716f8516fec)[13](https://app.finbar.com/go?id=T-6e4331b1aa044834a41f4fdf5c1e6ac7)

For management and reporting, HCA organizes its business into three geographically based groups plus corporate and other. The National Group includes 55 hospitals in Alaska, California, Idaho, Indiana, Kentucky, Nevada, New Hampshire, North Carolina, Tennessee, Utah, and Virginia; the Atlantic Group includes 62 hospitals in Florida, Georgia, northern Kansas, Missouri, and South Carolina; and the American Group includes 65 hospitals in Colorado, central Kansas, Louisiana, and Texas. The company’s eight hospitals in England are reported within Corporate and other.[14](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)

In 2024, revenue was distributed across these operating geographies as follows: National Group $19.6 billion, or 27.8% of total revenue; Atlantic Group $23.2 billion, or 32.8%; American Group $24.6 billion, or 34.9%; and Corporate and other $3.2 billion, or 4.6%.[15](https://app.finbar.com/go?id=T-719f986f44984ae3b6262c7c12df566f) HCA Healthcare is headquartered at One Park Plaza in Nashville, Tennessee, and also maintains regional service centers in the markets where it operates hospitals.[16](https://app.finbar.com/go?id=P-ed4e330726924dffaee7c8fbfe13e946)
[1](https://app.finbar.com/go?id=P-ae4e6fdf6898456ea3408716f8516fec)[13](https://app.finbar.com/go?id=T-6e4331b1aa044834a41f4fdf5c1e6ac7)[14](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)[15](https://app.finbar.com/go?id=T-719f986f44984ae3b6262c7c12df566f)[16](https://app.finbar.com/go?id=P-ed4e330726924dffaee7c8fbfe13e946)

## Business segments

HCA Healthcare does not report multiple product or service segments; it states that it operates in one line of business—operating hospitals and related healthcare entities—and organizes the business into three geographically managed groups: National Group, Atlantic Group, and American Group. It also reports a separate “Corporate and other” category, which includes the company’s eight hospitals in England. These groupings are also used for performance assessment through adjusted segment EBITDA. [14](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)[17](https://app.finbar.com/go?id=P-008b9569507c4a4e8e6b55ede780427b)

The National Group includes 55 hospitals across Alaska, California, Idaho, Indiana, Kentucky, Nevada, New Hampshire, North Carolina, Tennessee, Utah, and Virginia, and contributed about 28% of 2024 revenue ($19.6 billion of $70.6 billion). The Atlantic Group includes 62 hospitals across Florida, Georgia, northern Kansas, Missouri, and South Carolina, and contributed about 33% of revenue ($23.2 billion). The American Group includes 65 hospitals across Colorado, central Kansas, Louisiana, and Texas, and contributed about 35% of revenue ($24.6 billion). “Corporate and other” contributed about 5% of revenue ($3.2 billion). On an adjusted segment EBITDA basis, the National, Atlantic, and American groups contributed roughly 29%, 33%, and 38%, respectively, of total adjusted segment EBITDA in 2024. [14](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)[18](https://app.finbar.com/go?id=T-6a451bc3745c4e038e52ee5c2ee48bcb)[19](https://app.finbar.com/go?id=T-9d64c9b0f4ba43e482ce671faac0ced2)
[14](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)[17](https://app.finbar.com/go?id=P-008b9569507c4a4e8e6b55ede780427b)[18](https://app.finbar.com/go?id=T-6a451bc3745c4e038e52ee5c2ee48bcb)[19](https://app.finbar.com/go?id=T-9d64c9b0f4ba43e482ce671faac0ced2)

## Company history

HCA traces its origins to 1968, when Hospital Corporation of America was founded in Nashville by Dr. Thomas F. Frist Sr., Dr. Thomas F. Frist Jr. and Jack C. Massey; the company’s current filings state that it commenced operations in 1968 through its predecessors.[20](https://app.finbar.com/go?id=P-0e9d6f5001aa4fa694d49855a42500bc)[21](https://www.hcahealthcare.com/about/our-history) HCA then moved through several ownership changes in its early decades, going private in a leveraged buyout in 1988 after having previously been publicly traded, and returning to the public markets in 1992.[22](https://www.reuters.com/article/business/factbox-hospital-operator-hca-goes-public-again-idUSTRE7280O3/)

A major turning point came in 1994, when HCA merged with Columbia Healthcare Corp. to form Columbia/HCA, one of the largest U.S. hospital operators at the time.[22](https://www.reuters.com/article/business/factbox-hospital-operator-hca-goes-public-again-idUSTRE7280O3/) In 1999, Columbia/HCA spun off LifePoint Hospitals and Triad Hospitals as part of a restructuring.[22](https://www.reuters.com/article/business/factbox-hospital-operator-hca-goes-public-again-idUSTRE7280O3/) HCA changed ownership again in 2006, when it was acquired by a private investor group including Bain Capital, KKR, Merrill Lynch Global Private Equity, Dr. Thomas F. Frist Jr. and HCA management in a transaction valued at about $33 billion including debt.[23](https://investor.hcahealthcare.com/news/news-details/2006/HCA-Completes-Merger-With-Private-Investor-Group/default.aspx) The company returned to the stock market in 2011, when HCA Holdings priced its initial public offering and resumed trading on the New York Stock Exchange.[24](https://investor.hcahealthcare.com/news/news-details/2011/HCA-Announces-Pricing-of-its-Initial-Public-Offering/default.aspx)
[20](https://app.finbar.com/go?id=P-0e9d6f5001aa4fa694d49855a42500bc)[21](https://www.hcahealthcare.com/about/our-history)[22](https://www.reuters.com/article/business/factbox-hospital-operator-hca-goes-public-again-idUSTRE7280O3/)[23](https://investor.hcahealthcare.com/news/news-details/2006/HCA-Completes-Merger-With-Private-Investor-Group/default.aspx)[24](https://investor.hcahealthcare.com/news/news-details/2011/HCA-Announces-Pricing-of-its-Initial-Public-Offering/default.aspx)

## Sources

1. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-ae4e6fdf6898456ea3408716f8516fec)
2. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-1a12ac7f70ec4d60a4fc2e7ce7107d33)
3. [investor.hcahealthcare.com](https://investor.hcahealthcare.com/overview/default.aspx)
4. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-010c2638f12a4068ac59efcf6075be75)
5. [www.hcahealthcareimpact.com](https://www.hcahealthcareimpact.com/our-network/our-integrated-network-of-care/)
6. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-0c16177c52c845c3acc1a6e3fe5b5d37)
7. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-2a5bd700e8b4497fba9695e21082e5eb)
8. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-3c4b462b62344fe2b513dc6101e0a850)
9. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-77c88c7d502c499284945141de0f152e)
10. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-a7b65654a1804275905a2853f134527a)
11. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-d66f33e1633d494f9d8d1a5a9e49bc71)
12. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-66821affd8174c8694b0f10053bdc87c)
13. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-6e4331b1aa044834a41f4fdf5c1e6ac7)
14. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-531bdefd49cd499b89bd2437dcb17892)
15. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-719f986f44984ae3b6262c7c12df566f)
16. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-ed4e330726924dffaee7c8fbfe13e946)
17. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-008b9569507c4a4e8e6b55ede780427b)
18. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-6a451bc3745c4e038e52ee5c2ee48bcb)
19. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=T-9d64c9b0f4ba43e482ce671faac0ced2)
20. [HCA Healthcare, Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P-0e9d6f5001aa4fa694d49855a42500bc)
21. [www.hcahealthcare.com](https://www.hcahealthcare.com/about/our-history)
22. [www.reuters.com](https://www.reuters.com/article/business/factbox-hospital-operator-hca-goes-public-again-idUSTRE7280O3/)
23. [investor.hcahealthcare.com](https://investor.hcahealthcare.com/news/news-details/2006/HCA-Completes-Merger-With-Private-Investor-Group/default.aspx)
24. [investor.hcahealthcare.com](https://investor.hcahealthcare.com/news/news-details/2011/HCA-Announces-Pricing-of-its-Initial-Public-Offering/default.aspx)

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