HCA Healthcare plans to expand its footprint in Texas by acquiring 41 urgent care centers from FastMed, the company announced Thursday.
The deal, expected to close this summer, includes 19 FastMed locations and 22 MedPost centers in Austin, Dallas, El Paso, Houston and San Antonio. The Nashville, Tennessee-based health system and the Raleigh, North Carolina-based clinic operator didn’t disclose the terms of the agreement.
HCA already has a significant presence in Texas, including 45 hospitals, 395 physician practices and 92 urgent care centers. The health system has invested about $6.6 billion over the last six years to expand services in the Lone Star State.
The for-profit company recently outlined plans to add hospitals in fast-growing areas, such as Las Vegas and Salt Lake City, as opposed to expanding existing facilities. “We think it’s better for us to open up new hospitals as opposed to keep adding on in every circumstance,” CEO Sam Hazen told investors last month. HCA also operates a growing network of 2,500 outpatient sites.
HCA beat expectations in the first quarter and raised its profit guidance for the year. Net income increased 7.1% to $1.4 billion, or $4.85 per share. Revenue rose 4.3% to $15.6 billion, and expenses grew 4.1% to $13.7 billion.
Source : Modern Healthcare