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Healthcare Investment Corporation of America history
Healthcare Investment Corporation of America company history timeline
1987: Richard Scott and Richard Rainwater join together to form Columbia Healthcare Corporation; form El Paso Healthcare System (EPHS), along with a group of physician investors.
In 1989, EPHS introduced its One Source medical services program--marketing to major area employers--which provided discounts at EPHS system facilities.
Columbia's total revenues were already approaching the half-billion mark in 1990.
By 1993, Scott, known to keep a paperweight on his desk reading 'If you are not the lead dog, the view never changes,' was ready to launch Columbia as a national healthcare provider.
The Healthtrust merger was completed in April 1995, with Healthtrust stockholders receiving 0.88 Columbia shares for each share of Healthtrust stock.
By the beginning of 1996, Columbia/HCA had grown to 340 hospitals, 125 outpatient surgery centers, and a range of other healthcare facilities.
In January of 1998, the company entered into an agreement to sell its Value Behavioral Health subsidiary--one of the operating groups obtained in its Value Health acquisition.
2000: Company reaches an understanding with the Department of Justice to recommend an agreement to settle its civil claims actions, paying $745 million in fines; later, changes its name to HCA - The Healthcare Company.
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