<SEC-DOCUMENT>0001140361-25-016961.txt : 20250501
<SEC-HEADER>0001140361-25-016961.hdr.sgml : 20250501
<ACCEPTANCE-DATETIME>20250501184902
ACCESSION NUMBER:		0001140361-25-016961
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250429
FILED AS OF DATE:		20250501
DATE AS OF CHANGE:		20250501

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FRIST THOMAS F III
		CENTRAL INDEX KEY:			0001223892
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11239
		FILM NUMBER:		25904988

	MAIL ADDRESS:	
		STREET 1:		3100 WEST END AVENUE SUITE 1225
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37203

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HCA Healthcare, Inc.
		CENTRAL INDEX KEY:			0000860730
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		EIN:				273865930
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE PARK PLZ
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37203
		BUSINESS PHONE:		6153449551

	MAIL ADDRESS:	
		STREET 1:		ONE PARK PLAZA
		CITY:			NASHVILLE
		STATE:			TN
		ZIP:			37203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HCA Holdings, Inc.
		DATE OF NAME CHANGE:	20101126

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HCA INC/TN
		DATE OF NAME CHANGE:	20010627

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HCA THE HEALTHCARE CO
		DATE OF NAME CHANGE:	20010419
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-04-29</periodOfReport>

    <issuer>
        <issuerCik>0000860730</issuerCik>
        <issuerName>HCA Healthcare, Inc.</issuerName>
        <issuerTradingSymbol>HCA</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001223892</rptOwnerCik>
            <rptOwnerName>FRIST THOMAS F III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3100 WEST END AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NASHVILLE</rptOwnerCity>
            <rptOwnerState>TN</rptOwnerState>
            <rptOwnerZipCode>37203</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2025-04-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1320</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>14817</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3590019.444</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9496.54</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II by Spouse</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28489.62</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II by Trusts for Children</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2348330.3574</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II by Trusts for Children</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1033528.4872</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II by Thomas F. Frist III 2007 Family Trust</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F6"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.01 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>36629163.8593</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Held indirectly through Hercules Holding II by Frisco, Inc.</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F7"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents common stock of HCA Healthcare, Inc. underlying 645 restricted share units attributable to an annual director equity award and 675 restricted share units received in lieu of annual cash retainers for service as a director and as Chairman of the Board. The restricted share units shall vest on the sooner of the date of the 2026 annual shareholders' meeting of HCA Healthcare, Inc. or the first anniversary of the grant date. Vested shares will be delivered to the Reporting Person on the date the Reporting Person ceases to be a member of the Board of Directors of HCA Healthcare, Inc.</footnote>
        <footnote id="F2">The Reporting Person directly owns 3,590,019.444 units of Hercules Holding II (&quot;Hercules&quot;) and may therefore be deemed to own indirectly the same number of shares of common stock of HCA Healthcare, Inc.</footnote>
        <footnote id="F3">Hercules holds 68,912,077 shares of common stock of HCA Healthcare, Inc. Hercules is held by a private investor group, including affiliates of HCA Inc. founder Dr. Thomas F. Frist Jr. The Reporting Person may be deemed to be a member of a group exercising voting and investment control over the shares of common stock of HCA Healthcare, Inc. held by Hercules. However, the Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F4">The Reporting Person may be deemed to own indirectly 9,496.54 units of Hercules owned by his spouse, and may therefore be deemed to own indirectly the same number of shares of common stock of HCA Healthcare, Inc.</footnote>
        <footnote id="F5">The Reporting Person may be deemed to own indirectly (i) 28,489.62 units of Hercules held by certain trusts for the benefit of his children, of each of which his sister is a trustee, and (ii) 2,348,330.3574 units of Hercules held by certain trusts for the benefit of his children, of each of which his spouse is a trustee, and may therefore be deemed to own indirectly the same number of shares of common stock of HCA Healthcare, Inc.</footnote>
        <footnote id="F6">The Reporting Person may be deemed to own indirectly 1,033,528.4872 units of Hercules held by The Thomas F. Frist III 2007 Family Trust, of which his spouse is a trustee, and may therefore be deemed to own indirectly the same number of shares of common stock of HCA Healthcare, Inc.</footnote>
        <footnote id="F7">The Reporting Person may be deemed to share voting and dispositive power with respect to 36,629,163.8593 shares of common stock of HCA Healthcare, Inc. beneficially owned by Frisco, Inc., by virtue of his position as a director of Frisco, Inc. Frisco, Inc. holds 36,629,163.8593 units of Hercules, and may therefore be deemed to own indirectly the same number of shares of common stock of HCA Healthcare, Inc.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Will Morrow, Attorney-in-Fact</signatureName>
        <signatureDate>2025-05-01</signatureDate>
    </ownerSignature>
</ownershipDocument>
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<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ef20048366_ex24.htm
<DESCRIPTION>EXHIBIT 24
<TEXT>
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    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 24</font><br>
    </div>
    <div>
      <div style="text-align: center; color: #000000; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Power of Attorney</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">The undersigned hereby makes, constitutes and appoints Will Morrow, with full power of substitution and re-substitution, the undersigned&#8217;s true and
        lawful attorney-in-fact (each such person and their substitutes, the &#8220;Attorney-in-Fact&#8221;), with full power to act for the undersigned and in the undersigned&#8217;s name, place and stead, in any and all capacities in connection with certain transactions
        in or relating to the Common Stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), of HCA Healthcare, Inc. (the &#8220;Company&#8221;), to:</div>
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            <td style="width: 18pt; vertical-align: top; color: #000000;">1.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="color: #000000;">Prepare, execute, and submit to the Securities and Exchange Commission (the &#8220;SEC&#8221;) a Form ID, including amendments thereto, and any other documents necessary or
                appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the SEC of reports required or considered by the Attorney-in-Fact to be advisable under Section 13 or Section 16 of the Securities Exchange
                Act of 1934 (the &#8220;Exchange Act&#8221;) or any rule or regulation of the SEC;</div>
            </td>
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      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z41eb1551573745e0beb61818e44893d8" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            </td>
            <td style="width: 18pt; vertical-align: top; color: #000000;">2.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="color: #000000;">Prepare, execute and submit to the SEC, the Company and/or any national securities exchange on which the Company&#8217;s securities are listed any and all reports
                (including any amendments thereto) the undersigned is required to file with the SEC, or that the Attorney-in-Fact considers it advisable to file with the SEC, under Section 13 or Section 16 of the Exchange Act or any rule or regulation
                thereunder, or under Rule 144 under the Securities Act of 1933 (&#8220;Rule 144&#8221;), with respect to the any security of the Company, including Forms 3, 4 and 5, Schedules 13D and 13G, and Forms 144; and</div>
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      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z971abfeb880c4070b0cccecfb0e745d2" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            </td>
            <td style="width: 18pt; vertical-align: top; color: rgb(0, 0, 0);">3.</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="color: #000000;">Prepare, execute and submit, or cause to be prepared, executed or submitted, any and all instruments necessary or incidental to any action listed above, including
                communications to regulatory authorities, self-regulatory organizations, securities exchanges and state securities law authorities.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">The undersigned hereby grants to the Attorney-in-Fact full power and authority to do and perform each and every act and thing requisite, necessary or
        advisable to be done in connection with the foregoing, as fully, to all intents and purposes, as the undersigned might or could do in person, hereby ratifying and confirming all that the Attorney-in-Fact, or their substitute or substitutes, shall
        lawfully do or cause to be done by authority of this Power of Attorney.</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;">This Power of Attorney shall not be affected by the subsequent disability or incompetence of the undersigned, and shall remain in full force and effect
        until revoked in writing by the undersigned.</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #000000;"><font style="font-weight: bold;">In Witness Whereof,</font> the undersigned has executed this Power of
        Attorney as of April 30, 2025.</div>
      <div>&#160;</div>
      <div style="color: #000000;"><u>/s/ Thomas F. Frist III</u></div>
      <div style="color: #000000;">Thomas F. Frist III</div>
      <div>&#160;</div>
      <div> <br>
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