(Bloomberg) Quorum Health Corp., the hospital chain spun off by Community Health Systems Inc., rose 15 percent on Monday after Appaloosa Management LP reported a 2.6 percent stake in the company.
Appaloosa, a hedge fund based in New Jersey, owned 771,436 shares of Quorum Health as of June 30, according to its latest filing. Appaloosa Management also holds Community Health shares. Under the terms of the spinoff, holders of Community Health stock as of April 22 received one share of Quorum Health stock for every four shares of Community Health.
