STAT+: This summer’s Covid surge was bad for hospital profits
This summer’s Covid-19 surge put a sizable dent in hospital finances, with two large investor-owned chains reporting lower revenue and profits in the recently-ended third quarter compared to the same period a year ago.
Stocks in HCA Healthcare and Tenet Healthcare shed north of 10% and 30% of their value at times, respectively, on Friday following their underwhelming reports for the quarter, which ended September 30. The companies collectively own more than 240 hospitals.
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