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In 1968, Thomas Frist Sr., his son Thomas Frist Jr., and Jack Massey embarked on a healthcare endeavor by creating the Hospital Corporation of America (HCA) in Tennessee. Originally conceived as a modest collection of clinics and hospitals, HCA rapidly expanded its reach over the ensuing decades. By the 1980s, through an aggressive acquisition strategy, it had become one of the leading for-profit hospital chains in the country.

In the 1990s, however, HCA became embroiled in controversy over a major Medicare fraud incident that resulted in more than $1.7 billion in fines. As a result of this crisis, CEO Rick Scott stepped down. But under new leadership, HCA grew stronger, expanded into new territories, and diversified its services, including the addition of ambulatory surgery centers.

A landmark event in HCA’s history occurred in 2006 when a group of private shareholders acquired the company in a stunning $33 billion deal; however, by 2011. HCA returned to public ownership, managing to raise over $3 billion in an initial public offering (IPO). This event was the most significant private equity-driven IPO in U.S. history.

To date, HCA’s influence in the healthcare industry remains undiminished. With ownership of more than 185 hospitals and an extensive network of more than 2,000 healthcare facilities spanning 21 states and even the United Kingdom, HCA has not lost its influence. Driven by an unwavering commitment to health care, the company is moving forward, venturing into new territories and adding more regional health systems and specialty clinics.