Major hospital operator Tenet Healthcare is moving aggressively into states with large numbers of people without health insurance.
There's more potential upside down the road "the bigger you are in California, Texas and Florida," Tenet CEO Trevor Fetter told CNBC on Wednesday, the second day of enrollment for Obamacare. For example, he said, "we are doubling the size of our company in the state of Texas.
"The more you're exposed to states with large numbers of uninsured people, the better it is for a hospital in the future," he said.
Operating in 14 states, Dallas-based Tenet completed its $1.8 billion acquisition of competitor Vanguard Health Systems on Tuesday, as millions of uninsured began buying coverage on state and federally operated exchanges under a mandate of President Barack Obama's Affordable Care Act.
"The very interesting thing to watch is going to be these health-care exchanges, because this is a consumer-oriented solution to an uninsured problem," Fetter said in a "Squawk Box" interview. "They don't cover everything. People will have 'skin in the game.' "