Frist says he won?t benefit from HCA sale

Senate Majority Leader Bill Frist, under investigation for selling his stock in HCA Inc., said Tuesday he didn’t know in advance the hospital chain founded by his family planned to go private.

Frist, who is considering a 2008 presidential bid, also said he hopes the investigation into the sale of his stock last year ends soon.

The Tennessee Republican said he learned about the buyout proposal, which was announced Monday, from newspaper reports. Thomas Frist Jr., the senator’s brother and a member of HCA’s board, is joining private equity groups to acquire the Nashville-based company he founded with his father in the 1960s.

Frist said he would not benefit from the deal, saying “to the best of my knowledge,” he owns no HCA stock.

Frist denies wrongdoing and says he got rid of the stock to avoid any appearance of a conflict of interest as he eyes a presidential run.