Nashville, Tenn.-based HCA operates 186 hospitals and 49,588 total licensed beds. In January, its stock price hit an all-time high, soaring past $300 per share following an 8% increase in revenue in 2023. The stock has maintained momentum, hitting $336.91 on June 5 — a year-over-year increase of approximately 24%.
In comparison, Dallas-based Tenet Healthcare’s stock is around $135 per share, while King of Prussia, Pa.-based Universal Health Services’ stock stands at about $189 per share.
In April, with the release of HCA’s first quarter results, CEO Sam Hazen attributed the system’s 11.2% year-over-year increase in revenue to “broad-based volume growth.” The system made headlines with Reuters for its projected recovery in surgical procedures, expected to persist throughout the year as staffing approaches pre-pandemic levels. and, in turn, bolster both bed and surgical capacity.
HCA’s climb is uplifting news for Dr. Frist Jr., who co-founded the company with his father, Thomas Frist Sr., MD, and entrepreneur Jack Massey in 1968. Dr. Frist Jr. owns more than 20% of the enterprise.
The major shareholder has seen his estimated net worth reach new heights in 2024. The Bloomberg Billionaires Index puts Dr. Frist Jr.’s estimated net worth at $29.7 billion at the time of publication, up by about 24% or $5.7 billion year over year. Forbes puts Dr. Frist’s wealth at $20.2 billion in 2023 and $26.2 billion today, up nearly 30% year over year and by one billion since February. (The two outlets use different methodologies to arrive at their estimates.)
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