Leerink Swann Downgrades Vanguard Health Systems (VHS) to Market Perform
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Vanguard Health Systems (VHS) Losses Major Contract But All Is Not Lost Say Analysts
March 25, 2013 3:52 PM EDTShares of Vanguard Health Systems (NYSE: VHS) are under heavy pressure Monday after its Phoenex unit, VHS Phoenix Health Plan, LLC (PHP), was notified that it was not awarded an acute care program contract for the program year commencing October 1, 2013 from the Arizona Health Care Cost Containment System (AHCCCS).
The unit in question represented approximately 80% of the segment revenues, and substantially all of the segment EBITDA and income from continuing operations before income taxes associated with the Health Plans segment as reported in the Companys Form 10-Q for the six months ended... More
