Sector Update � Healthcare (OVERWEIGHT,
maintain)
- Opportunity for long-term investors
Recent data indicates accelerating business volume
for hospital operators, with inpatient admissions registering growth in 1Q16
after the weakness of the past few quarters. We expect secular demand growth
for private healthcare services, and clear expansion plans to take advantage
of this trend, to drive the long-term growth of the hospital sub-sector.
Hospital operators appear well-positioned to retain the economic profit
conferred by secular trends, given their strong competitive position in the
value chain. Maintain Overweight.
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