HCA to Acquire Texas Urgent-Care Provider

Financial terms were not disclosed.

The acquisition of CareNow will complement HCA's hospitals and surgery centers with urgent-care facilities in the metroplex. CareNow will become a division inside HCA, adding 11 hospitals and more than 50 ambulatory sites to the company’s existing 165 hospitals and 113 surgery centers across 20 states. HCA also plans to replicate the business model in other areas, as it did in 2013, when the North Texas division of HCA formed an alliance with First Choice Emergency Room (Lewisville, TX, USA), which operates free-standing emergency care facilities.

“CareNow has a strong brand and will add an exceptional network of urgent care centers and 130 physicians that complement our hospital, emergency and outpatient services in Dallas-Fort Worth,” said Sam Hazen, president of operations for HCA. “This transaction represents two trusted providers coming together to deliver a broader and more integrated level of quality health care services.”

“This is an incredibly positive development for our patients, our people and our long-term mission as a health care provider,” said Tim Miller, president of CareNow. “After several months of thorough diligence we are excited to publicly announce that CareNow plans to become a division within HCA by the end of the year.”

HCA also announced a stock buyback after a nearly 42% jump in 2014 third-quarter profit. The company did not list a time frame for its buyback, saying purchases will be made at its discretion in the open market, in private transactions or otherwise.

Related Links:
Hospital Corporation of America
CareNow
First Choice Emergency Room