I know THC because I used to work for them.
I doubt that the two doctors are much of an issue. I think the real issue has to do with the medicare reimbursements and whether they'll have to reduce earnings going forward or have to give back any money from previous reimbursement.
THC used to be National Medical Enterprises and during that time they had a medicare overbilling issue. It resulted in a big fine and a government oversight of THC for 10 years. It was for that reason they instituted an ethics program..... not that this would really help with this issue, imo.
THC is really a bunch of independent hospitals under one roof and as such, they can't possibly keep an eye on all the accounting at each hospital. So... maybe a few haven't done it right, I don't really know. I think that's the issue here (due to their high outlier biz at some of their facilities) along with medicare cuts going forward (which I anticipate after the election. How can the government not cut with their budget in such a mess)?
On a valuation basis though......... it hasn't been this low at the lows in a decade or so.
Technically it was massively (and still is) oversold. I bought some shares today and I'm holding. I think it's due for a bounce..... although I'd feel better if they had gone through the entire float.
TA
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