Wednesday, February 27, 2013

Quote of the Day

“We are surprised by the announcement [naming veteran hospital executive Joseph Swedish to head WellPoint, Inc.] as two high-profile candidates had long been considered the front-runners. We believe the market’s lack of knowledge about Mr. Swedish will result in near-term weakness in [Wellpoint] shares…. The appointment of an expert in the provider space to run the nation’s second-largest health plan could be viewed as an indication that the WLP board is likely to back a more aggressive vertical integration strategy.”

— Brian Wright, an analyst with Monness, Crespi, Hardt and Co., Inc., said in a recent investor note.

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