Hospital Corp. of America said it may sell units.

The nation’s largest hospital chain said it is studying the sale of 100 of its 180 acute-care hospitals to a new employee-owned company. The proceeds from the sale would be used by HCA to reduce debt and repurchase common stock. The study would be completed by the end of June, the Nashville, Tenn., company said. Hospital industry analyst Randall S. Huyser said the move follows unsuccessful efforts by the company to sell the hospitals to others.