Saturday, May 8, 2010

HCA Hopes to Raise $4.6 Billion in IPO

Lewis-Gale Medical Center in Salem is part of HCA.^

Hospital Corporation of America Inc. (HCA), which operates 162 hospitals and 106 surgery centers in 20 states and the UK, including four in this region of Virginia, reportedly hopes to raise $4.6 billion in an initial public offering of common stock, its third, according to the Associated Press.

The IPA comes a bit moree than three years after it became private, following a leveraged buyout by private equity investors. HCA is based in Nashville and operates Lewis-Gale Medical Center in Salem, as well as hospitals in Low Moor (Alleghany County), Blacksburg and Pulaski.

HCA has not set a price for its shares and has not said how many it wants to sell, though in an SEC filing, it reported expectations of $2.5 billion. HCA has $26.86 billion in debt.

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