Assignment: Now you try it!! Develop your own SWOT for the following:
HCA was founded in 1968, in Nashville, Tennessee by Dr. Thomas F. Frist, Sr., Jack C. Massey
and Dr. Thomas F. Frist, Jr.. Frist Sr. is the father of former U.S. Senate majority leader Bill
Frist. Milton Johnson is the CEO of HCA.
The first hospital that HCA owned was Park View Hospital, near downtown Nashville. The
small group of founders worked out of a small house not far from Park View for the first few
years of operation.
In 1969, HCA conducted its first Initial Public Offering (IPO) on the New York Stock Exchange
(NYSE). As HCA grew, the small house that served as office space for the company no longer
provided enough space. In 1972, the company built a new office to house corporate operations
behind Centennial Park in Nashville.
Parkview Hospital circa 1968
Growth & merger
During the 1970s and 1980s the corporation went through a tremendous growth period acquiring
hundreds of hospitals across the United States which numbered 255 owned and 208 which HCA
In 1988, the hospital operator was acquired for $5.3 billion in a management buyout led by
Chairman Thomas F. Frist, Jr. and completed a successful initial public offering in the 1990s.
In 1993 HCA merged with Louisville-based Columbia Hospital Corporation to form
Columbia/HCA. In April 1998, Birmingham, Alabama-based HealthSouth Corporation
announced it was acquiring the majority of HCA’s surgical division.
Fraud & investigation
In 1997, the company was part of a fraud investigation initiated by a number of governmental
departments in the United States. Later that year, Rick Scott resigned as Chairman. He later
became the 45th and current Governor of Florida. The case was settled in 2002 at a reported cost