In 2006, Bain Capital and KKR & Co. paid $21.3 billion to buy out HCA. The firms took HCA public and have been selling off their stakes in HCA since.
Based on HCA’s Dec. 5 closing price, the buy back is valued at about $555.7 million, minus a 1 percent discount, according to the report.
HCA’s board adopted a share repurchase program in October, which is where the funds for the buy back will come from.
More articles on healthcare finance:
St. Joseph’s Hospital Health Center sees $8.2M loss
CFOs cite layoffs as one way of offsetting healthcare costs next year
Fitch upgrades rating on Bon Secours Health System’s bonds
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.