Hospital Corporation of America and Subsidiaries - Page 4

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          Corporation of America (HCA).  HCA maintained its principal                 
          offices in Nashville, Tennessee, on the date the petitions were             
          filed.  For each of the years involved in the instant case, HCA             
          and its domestic subsidiaries filed a consolidated U.S.                     
          Corporation Income Tax Return on Form 1120 with the Director of             
          the Internal Revenue Service Center at Memphis, Tennessee.                  
          General Background                                                          
               In 1960, Park View Hospital, Inc., was incorporated under              
          the laws of the State of Tennessee.  During 1968, Park View                 
          Hospital, Inc., joined with 11 other hospitals to form HCA, and             
          thereafter until 1989, HCA stock was publicly held and traded on            
          the New York Stock Exchange.4                                               
               Petitioners' primary business is the ownership, operation,             
          and management of hospitals.  As of January 1, 1981, petitioners            
          owned and operated 101 hospitals.  By the end of 1986,                      
          petitioners owned and operated 243 hospitals through 134                    
          corporations.                                                               
               HCA and its subsidiaries were formed as for-profit                     
          corporations, based on the theory that operating health care                


          4                                                                           
               During 1989, HCA became a privately held corporation and               
          remained so until 1992, when it again went public and changed its           
          name to HCA-Hospital Corp. of America.  On Feb. 10, 1994, the               
          corporation was merged with and into Galen Healthcare, Inc., a              
          subsidiary of Columbia Healthcare Corp. of Louisville, Kentucky,            
          and such subsidiary changed its name to HCA-Hospital Corp. of               
          America.  On that same date, the parent changed its name to                 
          Columbia/HCA Healthcare Corporation.                                        




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