market folly

Larry Robbins' hedge fund firm Glenview Capital has filed a 13G with the SEC regarding shares of HealthSouth (HLS).  Per the filing, Glenview has disclosed a 6.46% ownership stake in the company with over 5.9 million shares.

This is up from the 1.7 million HLS shares Glenview owned at the end of the first quarter.  The new filing was made due to activity on July 21st.

We also recently highlighted how Glenview added to its Tenet Healthcare (THC) stake.

Glenview has been extremely successful with their bets on the healthcare industry since the Affordable Care Act was initially introduced.  They've wagered on for-profit hospitals and insurers, among other things and have seen substantial returns from consolidation and increased profits at these companies.

Per Google Finance, HealthSouth is "an owner and operator of inpatient rehabilitation hospitals. The Company's inpatient rehabilitation hospitals offer rehabilitative care across an array of diagnoses, which include physical and cognitive disabilities or injuries due to medical conditions, such as strokes, hip fractures, head injuries, spinal cord injuries and a variety of debilitating neurological conditions. HealthSouth operates in around 33 states across the United States and in Puerto Rico and serves patients through its network of inpatient rehabilitation hospitals, home health agencies and hospice agencies. The Company's inpatient rehabilitation hospitals offer rehabilitative care across an array of diagnoses. As of December 31, 2014, the Company operated 107 inpatient rehabilitation hospitals. The Company's inpatient hospitals are concentrated in the eastern half of the United States and Texas."

You can view additional portfolio activity from Glenview here.