BY JON KAMP

HCA Holdings Inc.'s fourth-quarter earnings soared behind a big acquisition-related gain, plus help from continued growth in patient volumes and the hospital operator's cost-cutting efforts.

The Nashville, Tenn., firm issued 2012 guidance that brackets analyst expectations while also announcing a special $2-per-share cash dividend, payable at the end of February. The payout is a boon to private equity holders Bain Capital and KKR & Co., which combined hold roughly 40% of outstanding HCA shares following the company's initial public offering in March 2011, according to FactSet Research.

HCA shares still trade at a discount to the $30 IPO after a ...