HCA Posts Profit, but Chain’s Costs Increase
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HCA Inc., the biggest U.S. hospital chain, swung to a profit in the fourth quarter.
Net income was $317 million, or 63 cents a share, contrasted with a net loss of $102 million, or 20 cents, a year earlier, when HCA had costs to settle a U.S. fraud case, the company said. Revenue rose 11% to $5.6 billion.
HCA is battling competition from specialized surgery centers and is trying to collect more money from patients without health insurance.Shares of Nashville-based HCA fell $1.26 to $45.04 on the NYSE.
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