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HCA Healthcare (HCA) Steps Up Efforts to Boost PPE Output
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HCA Healthcare, Inc. (HCA - Free Report) recently announced its joint venture business with A Plus International Inc. (A Plus), which is a global manufacturer of medical products. This strategic step is been taken by the company to enhance access to personal protective equipment (PPE).
With this deal, the production of Level 1 and Level 3 masks, meeting the American Society for Testing and Materials (ASTM) standards, is expected to begin in early 2021. The process will take place at a manufacturing unit in Asheville, NC.
In the first stage, HCA Healthcare Mission Fund, LLC and A Plus will sponsor the new business. This move is in-line with the hospital company’s commitment to serve healthcare workers and cater to current demand for PPE. Amid the pandemic, the company’s expenses on PPE surged by more than $196 million year over year in 2020.
Shortage of PPE kits is one of the consistent concerns in the healthcare business due to the skyrocketing patient volumes suffering COVID-19.
Supply chain failed to match the surge in demand and hence, this action will likely aid healthcare providers on the front line to some extent. Demand for PPE is expected to be high even when the pandemic ends.
Notably, Asheville has a commendable workforce to its credit and the plant will adhere to quality and safety norms when it comes to production. This is undoubtedly an impressive measure adopted by HCA Healthcare, which again proves its wide presence in the healthcare world.
HeathTrust, a leading company in buying aggregation and performance improvement for medical care, will be managing the joint venture along with A Plus.
Other companies in the same space, such as Tenet Healthcare Corporation (THC - Free Report) , Community Health Systems Inc. (CYH - Free Report) and Acadia Healthcare Company Inc. (ACHC - Free Report) have also soared 100.3%, 153.3% and 78.1% each in the same time frame.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Shutterstock
HCA Healthcare (HCA) Steps Up Efforts to Boost PPE Output
HCA Healthcare, Inc. (HCA - Free Report) recently announced its joint venture business with A Plus International Inc. (A Plus), which is a global manufacturer of medical products. This strategic step is been taken by the company to enhance access to personal protective equipment (PPE).
With this deal, the production of Level 1 and Level 3 masks, meeting the American Society for Testing and Materials (ASTM) standards, is expected to begin in early 2021. The process will take place at a manufacturing unit in Asheville, NC.
In the first stage, HCA Healthcare Mission Fund, LLC and A Plus will sponsor the new business. This move is in-line with the hospital company’s commitment to serve healthcare workers and cater to current demand for PPE. Amid the pandemic, the company’s expenses on PPE surged by more than $196 million year over year in 2020.
Shortage of PPE kits is one of the consistent concerns in the healthcare business due to the skyrocketing patient volumes suffering COVID-19.
Supply chain failed to match the surge in demand and hence, this action will likely aid healthcare providers on the front line to some extent. Demand for PPE is expected to be high even when the pandemic ends.
Notably, Asheville has a commendable workforce to its credit and the plant will adhere to quality and safety norms when it comes to production. This is undoubtedly an impressive measure adopted by HCA Healthcare, which again proves its wide presence in the healthcare world.
HeathTrust, a leading company in buying aggregation and performance improvement for medical care, will be managing the joint venture along with A Plus.
Zacks Rank and Price Performance
Shares of this presently Zacks Rank #3 (Hold) company have gained 31.8% in the past six months compared with its industry’s growth of 35.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other companies in the same space, such as Tenet Healthcare Corporation (THC - Free Report) , Community Health Systems Inc. (CYH - Free Report) and Acadia Healthcare Company Inc. (ACHC - Free Report) have also soared 100.3%, 153.3% and 78.1% each in the same time frame.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>