Translation: "Please help us out of the financial mess we were put in under the repuke regime that we $upported"
http://biz.yahoo.com/ap/061117/apfn_hca_congress.html?.v=1The chairman of a hospital lobbying group told investors this week that industry insiders have secretly wanted Democrats to take over Congress.
But that secret wish wasn't backed by political contributions. In recent years, his lobbying organization has given money predominantly to Republican candidates.
"A lot of people think the Republicans are good for hospitals," Campbell said. "To be perfectly honest, behind closed doors, those of us that have been around truly believe we're better off with Democrats because Democrats tend to spend more money on health care. "They're actually more pro-hospital than a lot of the Republican counterparts,"
Campbell's comments have an added political twist, given his company's ties to outgoing Senate Majority Leader Bill Frist, a Tennessee Republican who is under federal investigation for selling HCA shares last year around the time insiders were selling and when the stock price hit a 52-week high.
HCA shareholders on Thursday voted to approve a $21.3 billion leveraged buyout deal that includes the assumption of an additional $11.7 billion in existing debt. The buyout comes as HCA and other hospital companies struggle with sliding earnings, slow growth and escalating expenses for the uninsured.
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http://biz.yahoo.com/ap/061117/hca_buyout.html?.v=3HCA Completes $21.3 Billion Buyout With Private Equity Groups
HCA Inc., the nation's No. 1 for-profit hospital chain, completed a $21.3 billion leveraged buyout to take the company private on Friday, just a day after shareholders voted overwhelmingly to approve the deal.
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"Now that they're a private company with higher leverage, they'll be looking for ways to reduce their costs. I'm sure they'll be trying to run a very tight ship."
The buyout comes as HCA struggles with sliding earnings, slow growth and escalating expenses for the uninsured.
Bovender said after the shareholder vote Thursday that HCA planned to sell and acquire hospitals over the next five years.