The Securities and Exchange Commission has opened a probe into whether the largest hospital company in the world, Hospital Corporation of America, violated securities law by manipulating its books and records, according to documents and people familiar with the investigation.
In 2006, HCA, then a public company, was bought by a consortium including its management, the family of former Senate majority leader Bill Frist (R-Tenn.) and three major financial firms for about $33 billion in the largest leveraged buyout ever at the time.
