Hospital stocks rose Monday following the withdrawal of the GOP's bill that would have replaced significant parts of Obamacare.
While the broader stock market traded lower on concerns that the Trump administration faces more challenges in achieving tax reform, hospital and Medicaid-related stocks moved higher.
Shares of mental health treatment facilities' operator Acadia Healthcare closed Monday up around 5 percent. Hospital owner Tenet Healthcare gained more than 1 percent, and Community Health Systems also closed up a little more than 1 percent, shedding some bigger gains made earlier in the day.
HCA Holdings, one of the nation's largest hospital operators, reached a new multiyear high on Monday morning and came about 5 percent from all-time high hit in 2015.
The hospital industry had opposed the Republican proposal because it was anticipated to increase the number of Americans without health insurance, which could have raised hospital losses.