HCA Healthcare Inc

HCA Healthcare, Inc. is one of the largest for-profit hospital operators in the United States. As of June 30, 2026, the company operated 190 hospitals and approximately 2,600 ambulatory sites of care, including surgery centers, freestanding emergency rooms, urgent care centers, and physician clinics across 19 U.S. states and the United Kingdom. The company generates revenue primarily from inpatient and outpatient hospital services, with reimbursement from government payers (Medicare, Medicaid, and supplemental payment programs), commercial insurers, and self-pay patients. HCA's scale allows it to invest heavily in capital expenditures, technology, and resiliency initiatives while returning capital to shareholders through dividends and substantial share repurchase programs. The company's results are significantly influenced by payer mix dynamics, including enrollment trends on health insurance exchanges, Medicaid supplemental payment program approvals at the state level, and broader healthcare policy developments. Updated Jul 24, 2026