(Reuters) – Hospital operator HCA Healthcare Inc on Thursday raised its annual profit forecast, betting on a recovery in surgical procedure volumes.
The volumes of medical procedures are trending upwards after the U.S. government ended the public health emergency status for COVID-19 in May. Patients, particularly older adults, have been returning to hospitals for procedures such as hip and knee replacements.
The recovery in demand for surgical procedures has also boosted margins for others including medical device makers such as Johnson & Johnson and Abbott Laboratories, which topped second-quarter profit estimates last week.
HCA Healthcare said it expects 2023 profit in the range of $17.70 to $18.90 per share, compared with its previous forecast of $17.25 to $18.55.
(Reporting by Khushi Mandowara and Vaibhav Sadhamta in Bengaluru; Editing by Shinjini Ganguli)
