Kindred Healthcare, the largest operator of long-term acute-care hospitals in the US, saw its stock fall the most in six years in New York trading. This after reducing its earnings projection for the year and reporting third-quarter preliminary profit that was lower than previously forecast.

Gulf Coast hurricanes in Texas and Louisiana cost the company $6 million in the third quarter.

“Our New Orleans facility was closed,'' CFO Richard Lechleiter told Bloomberg. ``We also suspended operations in San Antonio, Texas, and Houston. So there wasn't any revenue or patients in the building.

“In addition to that there were direct costs associated with the transfer of those patients to other facilities,'' he said. “During the shutdown period, we kept all our staff on payroll.''

Kindred plummeted 33 percent to $14.64 on theNew York Stock Exchange composite trading, its steepest drop since October 2002.

The company had retreated 12 percent this year as the Standard & Poor's Midcap Health Care Index tumbled 27 percent.

Click here for more information on healthcare jobs in your area.

Add To Favorites

Email To Friend

Back To Archives

Testimonial of the Week

EmploymentCrossing was helpful in getting me a job. Interview calls started flowing in from day one and I got my dream offer soon after.

Jeremy E Greenville, NC

+ Read More Testimonial

Only HealthcareCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.