Brief: Fund sells stake in LV hospital operator

Franklin, the biggest U.S. fund manager by market value, reported holding 6.8 million shares.

Vencor, one of the largest nursing home operators in Las Vegas and nationwide, is based in Louisville, Ky.

Vencor reported a pro-forma loss for the second quarter. As the company prepared for a new Medicare payment system, it failed to classify some patients eligible for that system. The oversight left the patients to be covered by Medicaid, a less-profitable option.

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