In early 2012, Mr. Robbins took the stage at an annual New York conference in which hedge fund managers try to outdazzle one another with their best picks. The Affordable Care Act would benefit hospitals by providing coverage for tens of millions of previously uninsured Americans. PhotoFor a time, Mr. Robbins was right. But some of the drop is being driven by health insurers, which are taking a harder line on expensive hospital care. PhotoLikewise, Community Health Systems acquired troubled Health Management Associates in 2014, a deal that has pushed its debt to more than $14.7 billion.

Source: New York Times September 11, 2017 20:30 UTC