Shares of health-care companies fell amid concerns about the growth outlook for the sector, in light of changes to the regulatory system.
Hospital chain Tenet Healthcare declined after it warned it would have to increase the number of job cuts previously targeted. In a presentation to investors at the J.P. Morgan Healthcare Conference in San Francisco, the company announced its cost-cutting efforts would increase the number of job cuts to 2,000, or about 2% of its workforce, from 1,300 it had previously announced. Tenet is among the hospital chains that benefited from expansion of health-insurance coverage under the Affordable Care Act.
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(END) Dow Jones Newswires
January 08, 2018 16:25 ET (21:25 GMT)