RBC says HCA note of CMS approval of Georgia Medicaid program ‘encouraging’

RBC Capital points out that HCA management noted at an industry conference Tuesday that CMS approved Georgia’s new $1.9B Medicaid SDP program Monday evening, calling that news “encouraging.” Using state bed counts, the firm estimates the approval will provide a roughly $83M EBITDA boost for HCA, adds the analyst, who has an Outperform rating and $593 price target on HCA shares.