Hospitals, medical device firms rise on procedure recovery hopes

Community Health Systems

14/06/2023 19:40

(Updates)
    ** Shares of medical device makers and hospital operators
rise after UnitedHealth  UNH.N  says the number of older adults
availing long-delayed surgeries is elevated in Q2 
    ** UnitedHealth at a Goldman Sachs healthcare conference
highlighted elevated demand for outpatient medical procedures,
particularly related to knees and hips, from patients in
Medicare health plans for people aged 65 and above
    ** Hospital operators HCA Healthcare  HCA.N , Tenet
Healthcare  THC.N  rise between 2% and 3%, while Community
Health Systems  CYH.N  up 3.5%
    ** "A lot of this (increase in demand) is being driven by
physician offices opening up and increasing capacity," Jefferies
analyst Brian Tanquilut said, adding that he expects the pent-up
demand to act as tailwinds for hospitals at least for the next
two quarters 
    ** Shares of medical device and equipment makers Zimmer
Biomet  ZBH.N , Stryker Corp  SYK.N , Boston Scientific  BSX.N 
and Medtronic  MDT.N  rise between 2% and 4%

 (Reporting by Manas Mishra and Pratik Jain in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15;))