HCA Healthcare stock rallies toward a record after $950 million deal to sell 4 Georgia hospitals to Piedmont
Shares of HCA Healthcare Inc.
rallied 1.8% toward a record in morning trading Monday, after the hospital operator announced an agreement to sell four hospitals in Georgia for about $950 million to Atlanta-based not-for-profit health system Piedmont Healthcare. The hospitals sold are Eastside Medical Center in Snellville, Cartersville Medical Center in Cartersville and the Coliseum Health System, which includes the Coliseum Medical Centers and Coliseum Northside and the Coliseum Center for Behavioral Health in Macon. The deal is expected to close in the third quarter of 2021. The stock, which is trading above the April 23 record close of $202.50, has run up 24.5% year to date, while the SPDR Health Care Select Sector ETF
has gained 7.7% and the S&P 500
has advanced 12.1%.