:quality(80)/s3.amazonaws.com/arc-authors/morningstar/27df33e4-c5eb-4dc8-805e-babc7c688b65.jpg)
HCA Retains Narrow Moat as Pressures Begin to Ease on Providers
HCA Healthcare operates the largest network of hospitals in the United States, focusing on attractive geographic locations where it has the potential for leading and increasing market share. With headquarters in Nashville and locations in 20 states and England, its facilities are particularly concentrated in Texas and Florida, which represent over half of its bed count. In those states, urban areas of focus include Dallas, Austin, Tampa, and Miami; those geographic areas provide a good sense of the positive demographic factors that the firm aims to benefit from across the country.