HCA Must Pay $162M For Deal Breach, Judge Says

Law360, New York (January 25, 2013, 3:51 PM EST) -- A Missouri state judge on Thursday ordered the majority private-equity-owned Hospital Corp. of America to pay $162 million to a community health care charity after finding the company had failed to abide by an agreement to upgrade former nonprofit hospitals it had purchased.

According to Judge John M. Torrence, HCA had failed to abide by requirements to spend more than $500 million on charity care and put $450 million into improving the Kansas City, Mo.-area hospitals it purchased from nonprofit operator Health Midwest in 2003 for...
To view the full article, register now.