Shares of health-care companies ticked down after President Donald Trump said the tax package approved by Congress effectively "repealed Obamacare."
"We see UnitedHealth's recent acquisition of DaVita Medical Group and the pending CVS/Aetna combo as ushering a new era of consumer driven health," said analysts at brokerage Morgan Stanley, in a research note. "While UnitedHealth will look to drive costs out via the physician, and CVS/Aetna likely via retail, we see an increased likelihood that over the near-to-midterm that dollar pools for traditional hospitals will shrink."
Continue Reading Below
-Rob Curran, firstname.lastname@example.org
(END) Dow Jones Newswires
December 20, 2017 16:27 ET (21:27 GMT)