HCA Healthcare, Inc. (HCA)

HCA Healthcare, Inc. is one of the leading health care services companies in the United States. Its primary objective is to provide a comprehensive array of quality health care services in the most cost-effective manner possible. At December 31, 2025, it operated 190 hospitals, 121 freestanding ambulatory surgery centers (ASCs) and 31 freestanding endoscopy centers, located in 19 states and England. Through its predecessors it began operations in 1968, and it was incorporated in Delaware in October 2010. Its common stock trades on the New York Stock Exchange under the symbol "HCA".

The hospital base consists of 179 general acute care hospitals with 50,436 licensed beds, seven behavioral hospitals with 714 licensed beds, and four rehabilitation hospitals. The general acute care hospitals typically offer medical and surgical services across specialties such as internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, along with intensive care, diagnostic and emergency services, and outpatient services such as surgery, laboratory, radiology, respiratory therapy and physical therapy. The behavioral hospitals provide child, adolescent and adult psychiatric care and alcohol and drug abuse treatment through inpatient, partial hospitalization and outpatient settings. The company also operates freestanding emergency care and urgent care facilities, walk-in clinics, diagnostic and imaging centers, radiation and oncology therapy centers, rehabilitation and physical therapy centers, physician practices, home health agencies, hospices and other facilities. Most ASCs are run through partnerships or limited liability companies in which an HCA affiliate typically holds majority ownership.

HCA serves patients in the local communities around its facilities, aiming to be the health care system of choice by building comprehensive local networks. Revenues depend on inpatient occupancy, the services ordered by physicians and provided to patients, outpatient procedure volumes, and reimbursement rates, which vary by type of payer, type of service and facility location. Payers include government programs, private insurers and managed care plans, as well as uninsured patients. The company's facilities are heavily concentrated in Florida and Texas.

Each hospital has an organized medical staff and a local board of trustees or governing board made up of community members. Certain affiliates provide management services to the facilities, including patient safety, ethics and compliance programs, national supply contracts, equipment purchasing and leasing, accounting, financial and clinical systems, reimbursement assistance, construction planning, information technology, legal, human resources and internal audit services. Its growth agenda centers on expanding in existing markets, recruiting and retaining physicians and other professionals, using economies of scale, disciplined development, and advancing digital and AI capabilities. Its hospitals and other facilities compete for patients with other hospitals and health care providers. Its principal executive offices are at One Park Plaza, Nashville, Tennessee.