The stocks of hospital companies like HCA Holdings, Tenet Healthcare, Universal Health Services and Community Health Systems soared Friday afternoon in trading on the New York Stock Exchange as word spread that Republican House Speaker Paul Ryan pulled his Obamacare repeal bill, the American Health Care Act, which is also known as Trumpcare. When the CBO disclosed just how many Americans would lose coverage under the House bill, things got worse. The rally comes after a gloomier picture earlier this week when it looked like House Republicans might pass the bill. Large nonprofit hospitals and health systems, too, were worried they would have to shelve capital projects. Nonprofit health systems, which were seeing admissions fall before the ACA's broader coverage kicked in four years ago have been enjoying some of their best years, financially.

Source: Forbes March 24, 2017 20:20 UTC