Healthcare Providers and Services
Company Overview of HCA Inc.
HCA Inc. owns and operates hospitals, and provides health care and related services. The company offers its services through a network of acute care hospitals, outpatient facilities, clinics, and other patient care delivery settings. As of September 30, 2014, it operated a portfolio of 165 hospitals with approximately 43,200 beds and 113 freestanding surgery centers in 20 states throughout the United States and in England. The company was founded in 1968 and is based in Nashville, Tennessee. HCA Inc. operates as a subsidiary of HCA Holdings, Inc.
One Park Plaza
Nashville, TN 37203
Founded in 2010
Key Executives for HCA Inc.
Chairman of HCA Holdings, Inc. and Chief Executive Officer of HCA Holdings, Inc.
Compensation as of Fiscal Year 2015.
HCA Inc. Key Developments
HCA Inc. Enters into Joinder Agreement to Replace Existing Senior Secured Term B-5 Loan Credit Facility Maturing on March 31, 2017
Mar 18 16
On March 18, 2016, HCA Inc. entered into a joinder agreement (the Joinder Agreement) to replace its existing senior secured term B-5 loan credit facility maturing on March 31, 2017 (the Tranche B-5 Term Loan Facility) with a new $1.50 billion senior secured term B-6 loan credit facility maturing on March 18, 2023 (the Tranche B-6 Term Loan Facility) on substantially the same terms as the Tranche B-5 Term Loan Facility, other than (i) borrowings under the Tranche B-6 Term Loan Facility will bear interest at LIBOR plus an applicable margin of 3.25% or a base rate plus an applicable margin of 2.25%, (ii) amortization payments on the aggregate principal amount of the Tranche B-6 Term Loan Facility are equal to 0.25% payable at the end of each fiscal quarter, commencing with the fiscal quarter ending June 30, 2016 and (iii) any prepayment of term loans under the Tranche B-6 Term Loan Facility in connection with a re-pricing transaction occurring on a date that is prior to the date that is twelve months after the effective date of the Joinder Agreement will be subject to a prepayment premium equal to 1.00% of the principal amount of any such term loans.
Doctor Sues HCA Inc. Over Firing
Feb 23 15
Tampa doctor sued HCA Inc., alleging she was fired from a physician-staffing company because she complained about low staffing levels at the emergency room of the chain's Brandon Regional Hospital. Dr. Wanda Espinoza-Cruz, alleged that so few doctors were available during a January 2014 night shift that a man with 'obvious stroke symptoms' was forced to wait four hours for medical care. A CT scan later showed blood on his brain, her suit says. In another instance, she said a patient endured a similarly long wait despite signs of hyperglycemia excessive blood sugar which can lead to a coma if untreated. Espinoza-Cruz's suit, filed Feb. 4, comes as Nashville-based HCA, is promoting short wait times at its emergency rooms. According to the eight-page complaint, Espinoza-Cruz, an osteopathic doctor, completed her residency in 2011 and joined EM-I Medical Services that August. She was assigned as a full-time ER physician to Brandon Regional, where she maintained an unblemished personnel file. That changed after Jan. 2, 2014. She said she reported for work at 7 p.m. to find a standing-room-only crowd in the emergency department. After asking why more doctors weren't working that night, a nursing supervisor told her that she no longer had the authority to call in doctors, Espinoza-Cruz said in her suit. Two days later, Espinoza-Cruz met with Brandon Regional chief executive officer Bland Eng to complain. Nine days after that she was fired. According to her suit, Eng said during their meeting that, he knew there was a problem, but that he had talked to corporate and that the emergency room staffing model was untouchable because of HCA's relationship with (staffing company) EMCare. EMCare gives a different reason for her dismissal, that she violated a company policy. She said an EMCare vice president told her she was caught trying to launch her own physician-staffing company and enlist Brandon Regional as a client.
HCA Inc. Enters into the Joinder, Amendment and Restatement to Credit Agreement
Oct 31 14
On October 30, 2014, HCA Inc. entered into the joinder agreement and amendment No. 1 to the credit agreement, dated as of September 30, 2011 and amended and restated as of March 7, 2014, by and among HCA, the subsidiary borrowers party thereto, the lenders party thereto and Bank of America, N.A. as administrative agent and collateral agent. The joinder agreement amends the ABL agreement by increasing the revolving credit commitments thereunder by $750.0 million such that the aggregate revolving credit commitments under the ABL agreement are increased from $2.500 billion to $3.250 billion. The incremental revolving credit commitment has identical terms as the existing revolving credit commitments under the ABL agreement.
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