HCA Healthcare

HCA health care is the largest for profit hospital operator in America. In November 2006, KKR and Bain Capital took the company private at $33 billion, the largest LBO in history at the time. The buyout worked by improving operational efficiency, private equity, hired administrators and consultants, who reduced waste, extended equipment life cycles and optimized emergency room throughput. Processing 10% more patients with the same staff generated 10% more profit. Margins expanded from 8 to 15%. Revenue climbed from 40 to 55 billion. Efficiency came not through medical innovation but from manufacturing principles. Reduce waste increased throughput. When HCA returned to public markets in March 2011, the company raised $3.