United Health Services 'dispute And Deny' BuzzFeed Report
Universal Health Services Inc. responded Thursday's to a BuzzFeed report that alleged the psychiatric hospital chain reaped profits at the expense of its patients. On Wednesday, the stock swung from a gain of about 1% to a loss of 12% in the final hour of trade after the BuzzFeed report was released. "We dispute and deny the conclusions drawn by the reporter in relation to UHS and believe that the story misses the mark in several important ways leading to an inaccurate portrayal of UHS's behavioral health operations," the company said in a statement. "The reporter seriously diminishes the complexity of behavioral health assessments and treatment necessary to properly care for the individual patient based upon their specific needs." UHS's stock was indicated up fractionally in premarket trade. It has lost 6.8% year to date through Wednesday, while the SPDR Health Care Select Sector ETF has shed 5.8% and the S&P 500 has run up 9.7%.
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