HCA posts $7B annual profit, plans to add 8 hospitals

Nashville, Tenn.-based HCA Healthcare saw its revenue and profit grow year over year in the fourth quarter of 2021. 

The 182-hospital system reported revenue of $15.1 billion in the fourth quarter of last year, up from $14.3 billion in the same period of 2020. The for-profit hospital operator said same-facility admissions, emergency room visits and outpatient surgeries increased year over year, while inpatient surgeries declined. 

After factoring in expenses and nonoperating items, HCA's net income in the fourth quarter of 2021 totaled $1.8 billion, up from $1.4 billion in the same quarter a year earlier. 

"The omicron surge started to influence our business in early December," HCA CEO Sam Hazen said in an earnings release. "Overall, our teams continued their tremendous response, and the effects of the pandemic's ever-changing conditions were managed well as reflected in our fourth quarter financial results."

Looking at full-year 2021 results, HCA reported comprehensive income of $7.05 billion on revenue of $58.8 billion. Net income attributable to HCA totaled $6.96 billion last year. In 2020, the company reported income of $3.7 billion on $51.53 billion in revenue. 

HCA said it expects capital expenditures, excluding acquisitions, to total $4.2 billion this year, up 17 percent from 2021. The company's capital plan includes expanding its footprint in Florida and Texas. 

HCA has 47 hospitals in Florida and plans to start building three more this year. The company announced in November that it is building a 90-bed hospital in Gainesville, a 100-bed hospital in Fort Myers and a 60-bed hospital near the Villages. The three hospitals will be part of HCA Florida Healthcare. 

The company plans to expand its 45-hospital footprint in Texas by building five more. 

"Communities across Texas are undergoing a rapid increase in population, and the addition of these new hospitals will help our existing network meet the increasing need for healthcare services," Mr. Hazen said in a Jan. 26 news release. "We are thrilled to expand our presence in Texas, and we believe it will enhance our care and better serve our patients."

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