HCA Healthcare expects to spend $4.6 billion this year for land for new hospital development, outpatient networks and for relieving capacity constraints at existing facilities, according to information released during its Q1 2023 earnings call.
Some inflationary increases in construction costs have factored into HCA’s guidance, said CFO Bill Rutherford. HCA has an estimated 182 hospitals in 20 states and the U.K., and about 2,500 outpatient facilities, Healthcare Finance reports.
“Before we get to share gain possibilities in those markets, that is going to require us to build out some new hospital facilities,” CEO Sam Hazen said on Friday’s earning call, according to the transcript published on Seeking Alpha.
HCA owns land in Austin, Texas, for new hospitals, and also in Dallas, Hazen said. HCA also recently purchased land for new hospitals in Las Vegas and Salt Lake City, and has land for new hospitals in a number of Florida markets, he said.
At least one new hospital is under construction in San Antonio, Texas. Read more.
