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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Jun 11, 1997
Page
2
Richard Scott, a young lawyer-turned-executive, built a Columbia/HCA style empire by buying multiple hospitals in the same market. He cut underperformers, consolidated services, redirected patients to stronger facilities, and leveraged bulk supplier discounts to drive growth across the United States.
Columbia-HCA, led by chairman Richard Scott, drives growth in Florida creating a large hospital network. The firm controls 7 percent of U.S. hospitals and nearly a quarter of South Florida’s, while facing government reviews and opposition from labor groups and hospitals.
Columbia Heath Care plans over three years include acquiring facilities and entering new markets with products not previously offered. In Florida the firm opened a Boca Raton home health agency and an outpatient wound care center, and will run health screenings for homeowners in Weston while progressing a 90-bed assisted living center at University Hospital Tamarac. Regulators have scrutinized Columbia’s acquisitions and physician referral practices, with raids on Texas hospitals and investigations into billing and ownership stakes. Despite legal pressures, the company aims to build a premier global health care network and pursue 12 new facilities nationwide this year.
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