HCA Healthcare vs Tenet Healthcare: Founders, CEOs and History
HCA Healthcare was founded in 1968 by Dr. Thomas F. Frist Sr., Dr. Thomas F. Frist Jr., Jack C. Massey and is led by Samuel N. Hazen. Tenet Healthcare was founded in 1969 by Richard Eamer, Leonard Cohen, John Bedrosian and is led by Saum Sutaria.
Company facts
HCA Healthcare
- Founded
- 1968
- Headquarters
- Nashville, Tennessee
- Current CEO
- Samuel N. Hazen
- Employees
- 320,000
Tenet Healthcare
- Founded
- 1969
- Headquarters
- Dallas, Texas
- Current CEO
- Saum Sutaria
- Employees
- 99,000
Founders
HCA Healthcare
Dr. Thomas F. Frist Sr.
Dr. Thomas F. Frist Sr. (1910-1998) was a Nashville internist and cardiologist who co-founded Hospital Corporation of America in 1968 with his son and Jack C. Massey.
Dr. Thomas F. Frist Jr.
Dr. Thomas F. Frist Jr. is a physician and former U.S. Air Force flight surgeon who co-founded HCA in 1968.
Jack C. Massey
Jack C. Massey (1904-1990) was a Nashville businessman and investor who had bought Kentucky Fried Chicken from Harland Sanders and expanded it. He provided early capital and business experience to HCA in 1968.
Tenet Healthcare
Richard Eamer
Richard Eamer was a fiercely visionary American corporate attorney, highly aggressive healthcare executive, and the profoundly influential CEO and founding patriarch fundamentally responsible for architecting National Medical Enterprises (NME), the massive his…
Leonard Cohen
Leonard Cohen was a highly astute American healthcare attorney, fiercely pragmatic corporate operator, and the profoundly influential commercial co-founder fundamentally responsible for the incredibly robust early capitalization and legal structuring of the ma…
John Bedrosian
John Bedrosian was an absolutely brilliant American healthcare attorney, fiercely skilled corporate strategist, and the profoundly influential co-founder fundamentally responsible for the highly complex operational and regulatory architecture of the massive Na…
CEOs and their tenures
HCA Healthcare
- Michael Marks
Executive Vice President and Chief Financial Officer
CFO who presents HCA's quarterly results and guidance.
Source - R. Milton Johnson2014–2018
Chairman and Chief Executive Officer
Chairman and CEO before Samuel Hazen took over at the start of 2019.
Source - Samuel N. Hazen2019–present
Chief Executive Officer
HCA's revenue grew from $51.3 billion in 2019 to $75.6 billion in 2025 under Hazen, a 43-year company veteran who previously served as president and COO.
Source - Michael Schlosser, M.D.2026–present
Executive Vice President and Chief Clinical Officer
Former chief transformation officer, named chief clinical officer effective September 1, 2026.
Source
Tenet Healthcare
- Jeffrey Barbakow1995–2024
Chief Executive Officer
Barbakow orchestrated the 1995 merger between National Medical Enterprises and American Medical International, creating the modern Tenet Healthcare Corporation, but his tenure was later marked by intense regulatory scrutiny and billing scandals that forced his…
Source - Trevor Fetter2005–2024
Chief Executive Officer
Fetter was appointed CEO in the aftermath of the devastating $900 million Medicare fraud settlement, and he led the agonizing, decade-long process of cultural transformation, operational turnaround, and financial deleveraging that eventually stabilized the com…
Source - Saum Sutaria2019–present
Chairman and Chief Executive Officer
CEO since 2021 and chairman, Sutaria has expanded USPI's ambulatory surgery footprint, sold non-core hospitals, reduced debt and returned capital through buybacks, lifting the consolidated adjusted EBITDA margin to 21.4% in 2025.
Source
Timeline: HCA Healthcare and Tenet Healthcare side by side
1968HCA Healthcare
Hospital Corporation of America Founded
Dr. Thomas Frist Sr., Dr. Thomas Frist Jr., and Jack C. Massey found Hospital Corporation of America in Nashville, building Park View Hospital as its flagship.
1969HCA Healthcare
Initial Public Offering on the NYSE
HCA completes its IPO on the New York Stock Exchange, utilizing equity capital to acquire and construct modern community acute-care hospitals nationwide.
1969Tenet Healthcare
Incorporation of Pacific Medical Center
The legal predecessor to Tenet Healthcare was incorporated in California as Pacific Medical Center, establishing the foundational corporate entity that would eventually be acquired and restructured into the modern Tenet enterprise.
1981Tenet Healthcare
Founding of City of Faith Medical Center
Televangelist Oral Roberts founded the $80 million City of Faith Medical and Research Center in Tulsa, Oklahoma, a catastrophic financial failure that filed for bankruptcy in 1987 and whose assets were later acquired by National Medical Enterprises.
1994HCA Healthcare
Columbia Hospital Corporation Merger
HCA merges with Rick Scott's Columbia Hospital Corporation to form Columbia/HCA, then the largest for-profit hospital company in the U.S.
1995Tenet Healthcare
Merger of NME and AMI
National Medical Enterprises (NME) completed its $2.2 billion merger with American Medical International (AMI), instantly creating the second-largest for-profit hospital chain in the US with over 100 hospitals and rebranding as Tenet Healthcare Corporation.
2006HCA Healthcare
$33 Billion Private Equity Leveraged Buyout
HCA is taken private in a landmark $33 billion leveraged buyout led by Bain Capital, Kohlberg Kravis Roberts (KKR), and Merrill Lynch alongside the Frist family.
2006Tenet Healthcare
$900 Million Medicare Fraud Settlement
Tenet Healthcare agreed to pay $900 million to resolve federal and state allegations of systematic upcoding, unbundling, and illegal kickbacks to physicians, marking the largest healthcare fraud settlement in US history at the time and forcing a cultural and o…
2011HCA Healthcare
Record Return to Public Markets (Largest US PE-Backed IPO)
HCA returns to the NYSE under ticker HCA, raising $3.79 billion in what was the largest private-equity backed IPO in American corporate history.
2014Tenet Healthcare
Acquisition of USPI Controlling Stakes
Tenet began acquiring controlling stakes in its United Surgical Partners International (USPI) joint ventures, consolidating the EBITDA of these profitable ambulatory surgery centers onto its balance sheet to drive outpatient growth.
2019Tenet Healthcare
Appointment of CEO Saum Sutaria
Saum Sutaria was appointed CEO of Tenet Healthcare, initiating a new era of financial discipline, aggressive debt reduction, and strategic optimization that would see the company retire over $4 billion in long-term debt by FY2024.
2020HCA Healthcare
COVID-19 Pandemic Response & Outpatient Migration
HCA navigates acute-care clinical stress while accelerating investments in freestanding ambulatory surgery and urgent-care sites.
2024Tenet Healthcare
FY2024 Revenue Reaches $20.33 Billion
Tenet Healthcare reported $20.68 billion in consolidated FY2024 revenue, generating $2.74 billion in Adjusted EBITDA and reducing its Net Debt to Adjusted EBITDA leverage ratio to 2.1x, positioning the company for a potential investment-grade credit rating upg…
2025HCA Healthcare
Surpassing $75.6 Billion in Annual Revenue
HCA reports record revenues of $75.600 billion and net income of $6.784 billion, operating 190 hospitals and over 150 outpatient and surgery centers.
2026HCA Healthcare
The College of Health Care Professions Acquired
HCA completes the acquisition of CHCP, adding about 8,000 allied health students at 10 Texas campuses and online.
Acquisitions
HCA Healthcare
- The College of Health Care Professions2026Undisclosed
- MD Now Urgent Care2022Undisclosed
- Valify2020Undisclosed
- Galen College of Nursing (majority stake)2020Undisclosed
- Mission Health2019$1.5B
- Memorial Health (Savannah)2018Undisclosed
Tenet Healthcare
- Various USPI Joint Venture Controlling Stakes2014Undisclosed
- American Medical International (AMI)1995$3.4B
- City of Faith Medical Center Assets1987Undisclosed
Questions about HCA Healthcare vs Tenet Healthcare
Who is the CEO of HCA Healthcare, Inc. and Tenet Healthcare Corporation?
HCA Healthcare, Inc. is led by Samuel N. Hazen and Tenet Healthcare Corporation is led by Saum Sutaria. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was HCA Healthcare, Inc. founded vs Tenet Healthcare Corporation?
HCA Healthcare, Inc. was founded in 1968 — 1 year before Tenet Healthcare Corporation, which was founded in 1969. HCA Healthcare, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Tenet Healthcare Corporation.
How many employees does HCA Healthcare, Inc. have compared to Tenet Healthcare Corporation?
HCA Healthcare, Inc. employs approximately 320,000 people, while Tenet Healthcare Corporation employs approximately 99,000. HCA Healthcare, Inc. has the larger workforce at 320,000 employees, compared to Tenet Healthcare Corporation's 99,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are HCA Healthcare, Inc. and Tenet Healthcare Corporation headquartered?
Both HCA Healthcare, Inc. and Tenet Healthcare Corporation are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded HCA Healthcare, Inc. and Tenet Healthcare Corporation?
HCA Healthcare, Inc. was founded by Dr. Thomas F. Frist Sr., Dr. Thomas F. Frist Jr., Jack C. Massey. Tenet Healthcare Corporation was founded by Richard Eamer, Leonard Cohen, John Bedrosian.
Which company has a longer operating history — HCA Healthcare, Inc. or Tenet Healthcare Corporation?
HCA Healthcare, Inc. has been operating for approximately 58 years, making it the more established of the two companies. Tenet Healthcare Corporation has been in operation for around 57 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the HCA Healthcare vs Tenet Healthcare overview