About Chelyen Davis:
Chelyen Davis is health reporter for The Free Lance-Star
Tobin on HCA’s dividend payments
I received an e-mail this afternoon from Tim Tobin, CEO of the new Spotsylvania Regional Medical Center. I had asked Tobin about the dividend payments made last week by the owners of HCA, the hospital’s parent company. The company is privately held, and the owners have made three payments to themselves this year. They said last week that they will sell debt to pay the third dividend.
I asked Tobin what, if any, effect the dividend payments and new debt will have on patient care at Spotsylvania. This was his reply:
“To answer your questions as specifically as possible, we do not anticipate any operational changes as a result of the dividend payments. As you pointed out in your blog, this is not the first time HCA has paid a dividend. I have great confidence in our company’s culture of quality and service and tremendous confidence in our leadership to make the right decisions. Following payment of our last dividends, our staffing, operating expenses, prices and access to capital were not negatively impacted. I don’t expect things to be any different now. We will continue to do the right thing for our patients, physicians, employees and for our communities.”
(The earlier posting on HCA’s dividend payments can be found here.)