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Buyout of Unit Terminated, HCA Says: Hospital...

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From Times Staff and Wire Reports

Buyout of Unit Terminated, HCA Says: Hospital Corp. of America said it has terminated the planned sale of its HCA Psychiatric Co. to the unit’s senior management and an employee stock ownership plan. Hospital Corp. said it was considering all alternatives concerning the unit but gave no reasons for not completing the deal. The Nashville, Tenn., firm, which went private in March, had planned to use the $1.23 billion from the sale to help pay off a $1.3-billion two-year loan it took out in connection with the buyout.

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