HCA Healthcare to Buy Large Stake in Galen College of Nursing
HCA Healthcare HCA along with Galen College of Nursing recently announced that the company will become the majority owner of Galen’s parent company. This unique collaboration, which will combine the expertise of both organizations, is expected to improve access to nursing education and provide career development opportunities in the same field. However, the deal is subject to a pending regulatory approval and other customary conditions. Terms of the deal were not disclosed.
HCA Healthcare, one of the major employers of nurses in the country, makes concerted efforts to drive nursing excellence. This, in turn, has led to better clinical outcomes, an enriched patient experience and better nurse engagement. The company believes that Galen with a great reputation for nursing studies is its perfect partner.
Notably, for Galen, the deal is an extension of its focus on nursing and its aim to boost access to good nursing training.
This is yet another step taken by HCA Healthcare’s to live up to its commitment toward being the leading career hub for nurses along with addressing the country’s rising nursing needs.
The company also previously made steadfast efforts to retain its nurses as well. During early 2018, it pledged $300 million for employee benefits by enhancing career development programs to retain and attract nurses. Those consist of tuition reimbursement for most full and part-time staff, student loan debt assistance, expanded certification offerings and plans for a scholarship program for children of HCA Healthcare employees.
In 2018, the company added more than 6,200 registered nurses and invested in advanced technologies to support nursing.
Notably, HCA Healthcare has been emphasizing on acquisitions for expedited growth. Its inorganic growth strategies have led to patient volumes enabled network expansion across several markets and added hospitals to its portfolio. The company’s buyouts are expected to add scale to its business, thus positioning it better to weather the regulatory uncertainties in the healthcare sector. On Feb 1, 2019, the company completed the awaiting integration of Mission Health, a six-hospital system in Asheville and the Western North Carolina for a value of around $1.5 billion. All these initiatives poise the company well for growth.
Shares of this Zacks Rank #3 (Hold) company have rallied 29% in a year’s time, outperforming its industry’s growth of 13.1%.
Stocks to Consider
Investors interested in the medical sector can take a look at some better-ranked stocks like UnitedHealth Group Incorporated UNH, Centene Corporation CNC and WellCare Health Plans, Inc. WCG, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth operates as a diversified health care company in the United States. In the last four quarters, the company delivered average beat of 3.39%.
Centene operates as a diversified and multi-national healthcare enterprise in the United States. It came up with average earnings surprise of 4.99% in the trailing four quarters.
WellCare Health offers managed care services to government-sponsored health care programs. The company pulled off average positive surprise of 15.43% in the preceding four quarters.
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