Stocks within the for-profit hospital sector were frenzied in the last week of June, led by the major deal announced between Tenet Healthcare Corp. and Vanguard Health Systems.
Last Monday, Tenet said it would buy Vanguard for $4.3 billion. This immediately shot up the stocks of both companies. Vanguard stood at $20.74 per share — up almost 68 percent and higher than its stock price when it first went public — while Tenet's shares went for $46.10.
Hospital Corp. of America was the only for-profit chain to lose ground last week, but June was a down month overall for the sector. Every operator, except for Vanguard and Health Management Associates, ended June with lower stock prices than when the month started.
Here are the five-day stock prices and percentage changes for the week of June 24 through June 28.
• Community Health Systems (Franklin, Tenn.): $46.88 per share (up 3.31 percent)
• Health Management Associates (Naples, Fla.): $15.72 per share (up 1.68 percent)
• Hospital Corporation of America (Nashville, Tenn.): $36.06 per share (down 3.69 percent)
• LifePoint Hospitals (Brentwood, Tenn.): $48.84 per share (up 0.33 percent)
• Tenet Healthcare (Dallas): $46.10 per share (up 10.16 percent)
• Universal Health Services (King of Prussia, Pa.): $66.96 per share (up 1.73 percent)
• Vanguard Health Systems (Nashville, Tenn.): $20.74 per share (up 67.66 percent)
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HMA Selected to Lease Bert Fish Medical Center
What Does the Tenet-Vanguard Merger Mean for Healthcare?