We have ignored the Healthcare System in our country for decades and look where we are! Our Ignorance and tolerance of the so-called Market Driven Health Care has resulted in Disaster! The biggest culprit, those Corporate Executives , Insurance Companies,Lobbyists and our lawmakers, the politicians. All equally guilty of GREED! Although our government and the laws written have allowed an open door to Fraud, it is time to bring the Corporate Criminals & Politicians to Justice.
Monday, September 10, 2007
$33B HCA sale approved by shareholders
This deal has dragged on for so long that its conclusion is almost an anticlimax. Finally, after months of strife, shareholders have approved the $33 billion sale of HCA Corp. to a private investor group. The sale should represent the largest leveraged buyout in history, topping the $31.3 billion sale of RJR Nabisco in the late 80s. The buyers, which include Bain Capital, Kohlberg Kravis Roberts & Co and Merrill Lynch Global Private Equity, along with HCA managers and founder Tommy Frist, are taking the company private--though they've admitted they may go public again within the next several years. In making the acquisition, the group is taking on $11.7 billion in HCA debt. The sale will pay stockholders almost 20 percent more per share than the stock was worth when the agreement was announced in July, a nice deal given that analysts expect HCA growth to fall by 13 percent during the next quarter.
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