HCA will purchase the stock at a price of $18.61 per share, totaling about $1.5 billion, and the transaction is expected to be finalized on Sept. 21. The three Bank of America designees on HCA’s board of directors will also step down, the release said.
Bank of America recently announced it would eliminate 30,000 jobs over the next few years, and the bank is looking to sell assets to raise capital, according to a Bloomberg report.
Related Articles on HCA:
HCA: Decline in Heart Surgeries Led to Low 2Q Postings
HCA, Adventist Health Opening Two Hospitals in Florida
HCA Net Income Down 22%
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.
