For-profit hospital operator shares slump after Tenet sees patient volume decline

Shares of for-profit hospital operators, including Nashville, Tenn.-based HCA Holdings and Franklin, Tenn.-based Community Health Systems, fell sharply on Tuesday after Dallas-based Tenet Healthcare said patient admissions at its hospitals fell in the fourth quarter of 2015, according to Reuters.

During remarks at the J.P. Morgan Healthcare Conference in San Francisco on Tuesday, Tenet Chairman and CEO Trevor Fetter said the for-profit hospital operator’s inpatient admissions fell 1.8 percent in December.

Tenet shares declined 7.6 percent to $23.86 in afternoon trading on Tuesday — its lowest level in three years. That caused stocks of HCA and CHS to fall, declining 2.8 percent and 5.7 percent, respectively.

For-profit hospital operator shares slump after Tenet sees patient volume decline

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