New Sale Price for HCA Unit: Hospital...
New Sale Price for HCA Unit: Hospital Corp. of America said it will take $100 million less than the expected $1.23 billion for its psychiatric company, the largest HCA unit for sale to help finance the company’s management-led takeover. Executives of Nashville, Tenn.-based HCA said in March, when shareholders voted to sell the company for $3.6 billion, that subsidiaries would be sold to repay a $1.3-billion bridge loan due in two years. While HCA will accept the lower purchase price, it will retain ownership of $150 million in the psychiatric company’s common stock and preferred stock along with warrants to buy additional shares of common stock. The deal is expected to be completed by year-end.
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