Investor-owned hospitals brace for Hurricane Michael’s fury

HCA executives are meeting Wednesday morning to discuss the possible impact in addition to preparations.

A Community Health Systems’ spokesperson was not immediately available for comment. Universal Health Services said This specific was working to provide information.

Shares of HCA Healthcare in addition to Universal Health Services were marginally higher in Wednesday’s session, each up about 0.1 percent midmorning. Community Health Systems shares were up more than 3 percent.

Damage through hurricanes Harvey in addition to Irma in Texas, Florida in addition to Louisiana last year showed within the hospitals’ quarterly results. The two storms cost HCA an estimated $140 million, before insurance claims, the company said in its 2017 third-quarter earnings report.

Community Health Systems said This specific suffered a $40 million in losses due to Harvey in addition to Irma, while Universal Health Services lost about $12 to $13 million.

“At This specific point the earnings risk through Michael seems significantly lower, though many hospital companies had facilities within the path of Hurricane Florence in September as well,” said Evercore ISI analyst Michael Newshel in a research report to clients late Tuesday.

Florida Governor Rick Scott told residents early Wednesday of which This specific was their “last chance” to evacuate before the storm hits into the state’s Gulf shore. Hurricane Michael was packing winds of up to 140 miles per hour as of Wednesday morning, according to the U.S. National Hurricane Center.

WATCH: Life-threatening flash floods possible through Michael

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