Health-care companies fell sharply as traders hedged their bets on the outlook for growth.
A pullback for health insurers in the wake of a growth warning from Humana continued to weigh. Shares of UnitedHealth Group, the largest U.S. health insurer by enrollees, fell by more than 3%, trimming year-to-date gains to roughly 5.5%.
Investment firm New Mountain Capital said its given up its pursuit of R1 RCM now that the health-care revenue-cycle-management company has agreed to a $14.30-a-share buyout deal with investment-management firm TowerBrook Capital Partners and buyout firm Clayton, Dubilier & Rice.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
08-05-24 1748ET
