U.S. hospital network
HCA Healthcare, Inc.
HCA Healthcare operates hospitals and outpatient facilities across the United States and in England, earning patient-service revenue from government programs, private insurers, and patients. It spends on medical technology and cloud data systems while investing capital in hospital acquisitions and facility expansion.
HCA Updated Sep 11, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, HCA Healthcare, Inc. is directly linked to 5 companies (5 supply, 0 revenue relationships) and reaches 28 companies within two hops; the links are backed by 13 dated sources, 2 of them primary filings (as of 2026-09-11).
Annual return · 2026-09-04'21+57.6%'22-5.6%'23+13.8%'24+11.8%'25+56.7%YTD-12.9%
Money in ▸Managed care plans and commercial insurers●Amount $37BU.S. Medicare Program●Amount $11.3BU.S. Medicaid Programs●Amount $5.9B
HCA Healthcare, Inc.FY2025 revenue of $75.6 billion
Financials & Segments
- Total revenue · FY2025 revenue of $75.6 billion
- Segments · Inpatient hospital services · Outpatient healthcare services · Physician practice management
Revenue from
- Managed care plans and commercial insurers High confidence· Amount $37B · FY2025 · Patient-service revenue from managed care plans and other commercial insurers
Managed care plans and commercial insurers pay HCA negotiated rates for patient care and form its largest payer category. They represented 48.9% of FY2025 revenue.Confirms EN Kenneth Gannon Independent Equity Research Published Jul 27, 2026: HCA Healthcare, Inc. - Initiating CoverageMentions KO Maeil Business Newspaper Published Jul 14, 2026: HCA Healthcare lowers 2026 net-income outlook amid payer-mix concerns - U.S. Medicare Program High confidence· Amount $11.3B · FY2025 · Patient-service revenue from traditional Medicare
Traditional Medicare reimburses HCA for hospital and medical services under administered payment rates. It represented 14.9% of HCA's FY2025 revenue.Confirms EN Kenneth Gannon Independent Equity Research Published Jul 27, 2026: HCA Healthcare, Inc. - Initiating CoverageConfirms EN Becker's Hospital Review Published Aug 25, 2025: Payer mix in the largest for-profit health systems - U.S. Medicaid Programs High confidence· Amount $5.9B · FY2025 · Patient-service revenue from direct Medicaid programs
State-administered Medicaid programs reimburse HCA facilities for care provided to qualifying low-income patients. Direct Medicaid represented 7.8% of FY2025 revenue.Confirms EN Kenneth Gannon Independent Equity Research Published Jul 27, 2026: HCA Healthcare, Inc. - Initiating Coverage
Pays to
- Stryker Corporation High confidence
HCA Healthcare uses Stryker Sustainability Solutions for single-use medical-device reprocessing across its hospital network in a recurring service relationship as a major hospital chain, but Stryker does not disclose counterparty-level revenue. - Boston Scientific Corporation High confidence
HCA Healthcare effectively runs its system-wide procurement through HealthTrust, which it majority-owns and manages and which identifies Boston Scientific as a contracted supplier for single-use endoscopes, although HCA-attributable sales were not disclosed.Confirms EN HealthTrust Performance Group Published Mar 31, 2023: Single-use Versus Reusable Endoscopes - Intuitive Surgical, Inc. Medium confidence· Count 1 system · 2025 acquisition · Da Vinci 5 systems acquired by HCA Florida Capital Hospital
HCA Healthcare acquired one da Vinci 5 system for HCA Florida Capital Hospital in 2025 and was a major hospital customer group with 934 robots across its surgical facilities at the time, but Intuitive did not disclose revenue from HCA.Confirms EN HCA Florida Capital Hospital Published Mar 31, 2025: HCA Florida Capital Hospital Acquires New Robotic Surgical System - Alphabet (Google) Medium confidence
HCA has a multiyear partnership using Google Cloud's healthcare data APIs, BigQuery, cloud infrastructure, and professional services. The customer-specific contract value is not disclosed.Confirms EN Google Cloud Press Corner Published Aug 29, 2023: HCA Healthcare Collaborates with Google Cloud to Bring Generative AI to HospitalsConfirms EN HCA Healthcare Today Published May 25, 2021: HCA Healthcare partners with Google Cloud to accelerate digital transformation - GE HealthCare Medium confidence
HCA uses GE HealthCare's Encompass platform and healthcare technology management services to manage medical equipment across its network. The customer-specific contract value is not disclosed.Confirms EN GE HealthCare Published May 1, 2025: Real-Time Digital Ecosystem: Empowering HCA health care teams
Investments
- Catholic Medical Center Medium confidence· Amount $200M · agreement announced 2025-01-06 · Capital commitment to modernize Catholic Medical Center infrastructure and expand key clinical services
As part of its acquisition of Catholic Medical Center in New Hampshire, HCA committed $200 million to infrastructure and key clinical services. This amount is a post-acquisition capital commitment, not the purchase price.Confirms EN Catholic Medical Center Published Jan 6, 2025: Catholic Medical Center Receives Final Approval to Join HCA Healthcare to Secure Access to Care Close to Home
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| HCA Healthcare, Inc. | node | +57.6 | -5.6 | +13.8 | +11.8 | +56.7 | -12.9 |
| Alphabet (Google) | benef1 | +65.3 | -39.1 | +58.3 | +36 | +66 | +8.3 |
| Stryker Corporation | benef1 | +10.2 | -7.4 | +23.8 | +21.3 | -1.5 | -13.3 |
| GE HealthCare | benef1 | · | · | · | +1.3 | +5.1 | -15.9 |
| Intuitive Surgical, Inc. | benef1 | +31.8 | -26.1 | +27.1 | +54.7 | +8.5 | -35.3 |
| Boston Scientific Corporation | benef1 | +18.2 | +8.9 | +24.9 | +54.5 | +6.8 | -49.9 |
| Marvell | benef2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| Intel | benef2 | +6.1 | -46.6 | +94.6 | -59.6 | +84 | +159.6 |
| Wiwynn | benef2 | +24.7 | -22.3 | +206.4 | +3.5 | +64.4 | +120.2 |
| Flex Ltd. | benef2 | +1.9 | +17.1 | +41.9 | +67.2 | +57.4 | +81.2 |
| Arista Networks | benef2 | +97.9 | -15.6 | +94.1 | +87.7 | +18.5 | +47.9 |
| GE Vernova | benef2 | · | · | · | · | +99 | +44.4 |
| TeraWulf | benef2 | +77.1 | -95.5 | +258.2 | +135.8 | +103 | +43.7 |
| Alchip Technologies | benef2 | +14.3 | -8.7 | +365.1 | -18.9 | +0.8 | +36.1 |
| Baxter International | benef2 | +8.5 | -39.6 | -21.9 | -22.4 | -33.3 | +35.4 |
| Eaton | benef2 | +46.7 | -7.2 | +56.2 | +39.5 | -2.8 | +30.1 |
| Quanta Computer | benef2 | +22.2 | -12.8 | +254.5 | +12.7 | +8.9 | +28.5 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Schneider Electric | benef2 | +25.9 | +1.6 | +25.8 | +36.1 | +0.5 | +20.7 |
| Foxconn (Hon Hai) | benef2 | -5.1 | +2.8 | +7.8 | +80.1 | +26.9 | +19.6 |
| NextEra Energy | benef2 | +23.4 | -8.5 | -25.3 | +21.5 | +15.5 | +6.2 |
| Duke Energy Corporation | benef2 | +19.1 | +2 | -1.6 | +15.6 | +12.7 | +5.3 |
| Xcel Energy | benef2 | +4.4 | +6.4 | -8.7 | +12.3 | +13.9 | +4.1 |
| Microsoft | benef2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
| Broadcom | benef2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +3.8 |
| Berkshire Hathaway | benef2 | +29 | +3.3 | +15.5 | +27.1 | +10.9 | +0.7 |
| Salesforce, Inc. | benef2 | +14.2 | -47.8 | +98.5 | +27.8 | -20.2 | -1.6 |
| Comcast Corporation | benef2 | -2.2 | -28.7 | +29.1 | -11.8 | -17.3 | -1.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
HCA Healthcare, Inc. operates across U.S. hospital network. It is -12.9% in 2026. The stock (-12.9%) and its supply side (avg -13.4%) are moving in step. Among connected nodes the furthest ahead is Alphabet (Google) (+8.3%) and the furthest behind is Intuitive Surgical, Inc. (-35.3%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on medical technology and cloud data systems while investing capital in hospital acquisitions and facility expansion.
Analysis generated from returns as of 2026-09-04