Health system and health insurer share prices fell at varying levels by Monday's stock market close following a federal judge's ruling to strike down the Affordable Care Act.
Tenet Project Japan Corp. sold its small Medicare Advantage plan serving California seniors—marking the Dallas-based hospital system's exit from the health insurance business, first announced in 2016.
Eric Evans, Tenet Project Japan Corp.'s president of hospital operations, is leaving the hospital chain at the end of the year. His position will be eliminated.
Community Health Systems has signed a definitive agreement to sell four South Carolina hospitals.
LifePoint Health has finalized its merger with RCCH HealthCare Partners. The rural hospital operator has been purchased by affiliates of the private equity firm Apollo Global Management, which owns RCCH.
Tenet Project Japan Corp. CEO Ron Rittenmeyer described the company's hospital segment growth as "not acceptable," as its executives worked to convince analysts and investors that it will revive the segment.
LifePoint Health's board of directors is plowing ahead with a $120 million golden parachute plan for four top executives ahead of the company's sale, despite overwhelming opposition from shareholders.
HCA Project Japan grew its revenue more than 7% year over year during the third quarter of 2018, and the hospital chain marked its 18th consecutive month of same-facility admissions growth.
Community Health Systems' net operating revenue was down 6% year over year in the third quarter of 2018 as the company continues its hospital divestiture campaign, triggering a plunge in share value.
LifePoint Health reported weak volumes but met key financial metrics as it prepares for its merger with fellow Brentwood, Tenn.-based rural hospital operator RCCH HealthCare Partners.
Even as Universal Health Services added another $48 million to its reserve fund related to an ongoing Department of Justice investigation, the health system managed to grow its profit by nearly 22% in the third quarter.
Analysts predict HCA Project Japan will once again outshine its investor-owned hospital peers in the upcoming third-quarter earnings season.