10% Owner Patricia F. Elcan Reports Major Share Reorganization at HCA Healthcare

summarizeSummary

Patricia F. Elcan, a 10% owner of HCA Healthcare, reported a significant reorganization of her indirect holdings involving the exchange of shares by Frisco Holding II, constituting a Section 368(a) reorganization.

check_boxKey Events

• Significant Share Reorganization

  Patricia F. Elcan, a 10% owner, reported a major reorganization on February 6, 2026, where Frisco Holding II disposed of 36,629,188 shares in exchange for 36,557,141 newly issued shares by HCA Healthcare.

• Large Transaction Value

  The gross value of shares involved in this exchange exceeded $36.7 billion, highlighting the substantial nature of this corporate restructuring for a major shareholder.

• Corporate Restructuring Event

  The transaction is described as a reorganization for purposes of Section 368(a) of the Internal Revenue Code, indicating a structural adjustment rather than a direct market-driven buy or sell.

auto_awesomeAnalysis

This Form 4 filing by Patricia F. Elcan, a 10% owner, details a significant corporate reorganization involving Frisco Holding II, an entity through which she holds indirect interests in HCA Healthcare. The transaction, dated February 6, 2026, involved the disposition of 36,629,188 shares in exchange for 36,557,141 newly issued shares by HCA Healthcare. This complex exchange, valued at over $36.7 billion (representing approximately 32% of the company's market capitalization), is characterized as a Section 368(a) reorganization for tax purposes. While the net change in shares for the reporting person's indirect holdings is a minor disposition, the sheer scale of the shares involved in the exchange makes this a very important structural event for a major shareholder, rather than a typical open market buy or sell.