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HCA to add 7 hospitals, looks to M&A for more growth

Nashville, Tenn.-based HCA Holdings is looking to grow by acquiring more hospitals, officials said on a first quarter earnings call Tuesday.

HCA went on an acquisition spree this week, announcing Monday it inked definitive agreements to acquire three hospitals in Texas from Dallas-based Tenet Healthcare and two hospitals from Franklin, Tenn.-based Community Health Systems. The company also recently acquired Satilla Regional Medical Center in Waycross, Ga., and signed a letter of intent to purchase Memorial University Medical Center in Savannah, Ga. 

On the call with analysts Tuesday, CFO William Rutherford said the company will continue to explore opportunities in its acquisition pipeline. "We will see if we can continue to achieve some opportunities for growth through acquisitions," he said.

HCA's financial results for the first quarter were in line with the preview it issued last month. The company ended the quarter with net income of $659 million on revenues of $10.6 billion. That's compared to the first quarter of 2016 when HCA reported net income of $694 million on revenues of $10.3 billion.

More articles on healthcare finance:

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