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April 25 (Reuters) – Shares of Accretive Health Inc
plunged as much as 29 percent after Minnesota’s attorney general
alleged that the collection agency had violated patient privacy
and debt collection laws.
Attorney General Lori Swanson accused the company of placing
debt collectors in emergency rooms and demanding payments from
patients before they receive treatment.
Shares of the Chicago-based company were down 27 percent at
$13.42 on Wednesday in afternoon trade on the New York Stock
Exchange. They touched an 18-month low of $13.13.
(Reporting by Balaji Sridharan in Bangalore; Editing by Sriraj
Kalluvila)
