Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, October 28, 2014

HCA to acquire urgent-care provider, sets share buyback, (NYSE: HCA)

HCA Holdings Inc, the largest U.S. hospital operator, on Tuesday announced a deal to acquire a Dallas-based provider of urgent-care services and said its board authorized the repurchase of up to $1 billion of its outstanding shares.HCA, which previewed its third-quarter results earlier this month, also said its quarterly profit rose from a year ago as it admitted more patients to its hospitals.The Nashville-based company said it was acquiring CareNow, a privately held operator of 24 urgent-care centers in the Dallas-Fort Worth area. Terms of the agreement were not disclosed.HCA said its third-quarter net income rose to $518 million, or $1.16 a share, compared with $365 million, or 79 cents a share, a year ago. Revenue increased 9 percent to $9.22 billion.

HCA Holdings, Inc. (HCA) is a holding company whose affiliates owns and operates hospitals and related health care entities. Shares of HCA traded higher by 0.38% or $0.27/share to $71.67. In the past year, the shares have traded as low as $43.20 and as high as $73.94. On average, 3233420 shares of HCA exchange hands on a given day and today's volume is recorded at 3853874.