Shares of U.S. hospital operator Community Health Systems, Inc. (CYH, Financial) surged with the U.S. Supreme Court decision to uphold subsidies under the Affordable Care Act, insuring that Community Health will continue to experience lower bad debt, higher volumes, and better payer mix under the law. First quarter results beat expectations as a strengthening macro environment and management initiatives helped drive improvements in core organic operating metrics, including admissions, surgeries and emergency room visits. We believe synergies from the Health Management Associates acquisition will exceed initial guidance, and we maintain our positive outlook for the company. (Susan Robbins)
From Baron Funds' second quarter commentary.
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