HCA Healthcare HCA recently acquired 24 MedSpring urgent care centers from Fresenius Medical Care. These centers, situated in Austin, Dallas and Houston, will now be rebranded as CareNow Urgent Care, operated by HCA Healthcare and represents one of the major urgent care networks in the country. However, terms of the deal were not disclosed.
Since Austin, Dallas and Houston are witnessing substantial growth, people living there will now be able to access feasible healthcare services close to their residences and workplaces.
The buyout of these urgent care centers is in perfect sync with HCA Healthcare’s solid healthcare network and is expected to provide better services to patients.
With the inclusion of these facilities, HCA Healthcare’s portfolio now boasts 160 urgent care centers across the country. The company has been emphasizing on acquisitions for expedited growth. Its inorganic growth strategies have led to an increase in patient volumes-enabled network expansion across several markets and as a result, integrated hospitals into its portfolio.
The company’s buyouts are expected to scale up its business, thereby leveraging its position to weather the regulatory uncertainties in the healthcare sector. During 2018, HCA Healthcare spent a total of $1.2 billion on its acquisition profile.
In the first quarter of 2019, the company completed a major takeover of Mission Health, a seven-hospital system in Asheville and Western North Carolina, for approximately $1.5 billion. All these transactions helped the company cement its portfolio and penetrate further into different geographies.
One of its peers, Acadia Healthcare ACHC, has also been chasing the consolidation route for accelerating growth.. Evidently, buyouts have added facilities, beds and hospitals to the company’s network, contributing to its top line in turn.
Shares of this Zacks Rank #1 (Strong Buy) company have surged 30.1% in a year’s time, outperforming its industry’s rally of 14%.
Other Key Picks
Investors interested in the medical sector can also take a look at some other top-ranked stocks like WellCare Health Plans, Inc. WCG, and Molina Healthcare, Inc MOH. You can see the complete list of today’s Zacks #1 Rank stocks here.
WellCare Health offers managed care services to government-sponsored health care programs. The company pulled off average positive surprise of 13.52% in the preceding four quarters. It holds a Zacks Rank #2 (Buy).
Molina Healthcare provides managed health care services to low-income families and individuals. It carries a Zacks Rank of 1 and managed to deliver average positive surprise of 88.17%.
This Could Be the Fastest Way to Grow Wealth in 2019
Research indicates one sector is poised to deliver a crop of the best-performing stocks you'll find anywhere in the market. Breaking news in this space frequently creates quick double- and triple-digit profit opportunities.
These companies are changing the world – and owning their stocks could transform your portfolio in 2019 and beyond. Recent trades from this sector have generated +98%, +119% and +164% gains in as little as 1 month.
Click here to see these breakthrough stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Molina Healthcare, Inc (MOH) : Free Stock Analysis Report
WellCare Health Plans, Inc. (WCG) : Free Stock Analysis Report
Acadia Healthcare Company, Inc. (ACHC) : Free Stock Analysis Report
HCA Healthcare, Inc. (HCA) : Free Stock Analysis Report
To read this article on Zacks.com click here.