By Chad Terhune
June 9 (Reuters) – Spared the worst of COVID-19, the largest for-profit hospital chains in the United States are pursuing a speedy recovery backed by billions of dollars in federal aid, while other hospitals say they have been harder hit and left wanting.
HCA Healthcare Inc, the biggest chain, has received $5.3 billion in loans and grants thus far from the federal government to offset lost business and higher expenses from the coronavirus pandemic. Tenet Healthcare Corp, the second-largest chain by revenue and beds, has disclosed more than $2 billion in similar loans and grants.
Meantime, the two chains, which own hundreds of hospitals, outpatient surgery centers and clinics, are telling investors that COVID-19 wasn’t as severe as expected in most of their markets, and that business is ramping back up. Shares in Tenet have doubled since the market lows in mid-March, while HCA shares have soared