Hospital Chain Buyers Get $175M in Fees

[NVMojo]

(one reason why we can't afford healthcare in this nation ...for profit corporations reaping profits ...oh, and Frist's family owned Columbia/HCA at one time ...probably still pocketing change from it)


ASSOCIATED PRESS

Hospital Chain Buyers Get $175M in Fees NASHVILLE, Tenn. (AP) - The new owners of HCA Inc., the nation's largest for-profit hospital chain, will collect $175 million in transaction fees as part of a completed $21.3 billion leveraged buyout to take the company private.

The affiliates of HCA's new owners will also get an additional $15 million or more a year in management fees from the company, according to a report filed by HCA on Friday with the Securities and Exchange Commission.

The hospital chain was sold on Nov. 17 to HCA management and Hercules Holding II LLC, a consortium of private investment funds including Bain Capital Partners LLC, Kohlberg Kravis Roberts & Co. and Merrill Lynch Global Private Equity.

more...

http://www.lasvegassun.com/sunbin/stories/nat-gen/2006/nov/25/112500429.html

[sandyd921]

1. Bain Capital Partners

is one of the investors who are involved in the purchase of Clear Channel. Guess they realized there's profits to be made from our illnesses just like there are in media monopolies.

[Turbineguy]

2. Well, if we go to a single

provider system and "the government" ends up owning the hospitals you can bet there will be lots of fees and heavy profits during the transition.

I think at this point we must be down to 1/2 of health costs go to those who actually do the nursing, doctoring and even invent and supply drugs. The rest goes to fees and profits for those who are in some other and non-essential way, involved.

[NVMojo]

3. as in ...stockholders

[sandyd921]

6. And also as in

CEOs and top execs.

[Gormy Cuss]

4. Bain Capital was a Mitt Romney baby.

I don't know if he has any ties to it these days.

[MGD]

5. I used to work for HCA. Truth be told, it was a great job & I still wish I didn't have to resign.

That's neither here nor there however. I have been saying for years that the challenge of our generation will be to make capitalism compatible with compassion in the health care setting. Currently, the two don't work real well together. It's a big effin mess, no doubt about it.