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HCA Reports Fourth Quarter - Year End 2007 Results
Date:2/7/2008

million, an impairment of long-lived assets of $24 million and $442 million of transaction costs related to the recapitalization.

As of December 31, 2007, HCA's balance sheet reflected cash and cash equivalents of $393 million, total debt of $27.308 billion, and total assets of $24.025 billion. The Company's total debt balance decreased by $1.100 billion during 2007.

The 2007 gains on sales of facilities included the divestitures of three hospitals for proceeds totaling $661 million and the recognition of a net pretax gain of $443 million, or $272 million net-of-tax. Proceeds were used to reduce debt.

During November 2006, the Company's shareholders approved a merger with an acquiring consortium led by Bain Capital, Kohlberg Kravis Roberts & Co. and Merrill Lynch Global Private Equity, along with HCA founder, Dr. Thomas F. Frist, Jr. and certain members of his family and HCA management in which a cash payment of $51.00 per share was made for each share of HCA common stock held. The merger was accounted for as a recapitalization transaction.

The Company also announced today it had commenced a cash tender offer to purchase up to $500 million of aggregate principal amount of certain series of its outstanding debt securities. The Company expects the completion of the tender offer will reduce its interest expense. The Company intends to finance the purchase of the debt with borrowings under its revolving credit facilities. During the fourth quarter of 2007, the application of proceeds from asset sales contributed to a net reduction of $150 million in borrowings under the revolving credit facilities. For information regarding the tender offer, please refer to the separate press release issued by the Company today regarding the tender offer.

As of December 31, 2007, HCA operated 169 hospitals and 108 freestanding surgery centers (including eight hospitals and nine freestanding surgery centers operated through equity method joint ventures
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