Boston Scientific’s Positive Results, Hospital Stocks Jump On Election: Healthcare Biz Wrap
Boston Scientific Corporation (NYSE:BSX) and the University of Rochester Medical Center are reporting positive results from their joint clinical trial that evaluated whether alternate programming could decrease the occurrence of inappropriate therapy in primary prevention patients. The results indicated that improved programming of BSX’s implantable defibrillators can reduce such occurrences in fact, along with reducing the overall risk of death.
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Tuesday’s re-election of the President has shares of the top hospital companies moving up on Wednesday, as fears over a Mitt Romney administration repealing the Affordable Care Act disappear. A repeal would have meant that hospitals would have had to reassign a large share of “bad debt” onto their books in order to pay for emergency care of indigent patients. Benefitting from the election results are Health Management Associates (NYSE:HMA), HCA Holdings (NYSE:HCA), Tenet Healthcare Corporation (NYSE:THC), and Community Health Systems (NYSE:CYH).