Investors in healthcare stocks on the JSE have seen value destruction of about R14bn in three days of trading as the market grapples with the possible effect of government reforms to the sector. 

The National Health Insurance (NHI) Bill, tabled in parliament on Thursday last week, paves the way for the establishment of a central NHI Fund that will purchase services on behalf of the entire population. In terms of the bill, medical schemes will ultimately be limited to only offering cover for benefits not provided by the fund. The bill makes no provision for scheme administrators...

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