Healthcare company stocks rise as wage floor for nurses suspended

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Shares of Brazil’s major publicly traded healthcare companies soared on Monday after Supreme Court Justice Luiz Roberto Barroso granted an injunction suspending the newly approved national salary floor for nurses.

As of 3:15 p.m., Hapvida shares were up 2.16%; those of Rede D’Or, 3.79%; Mater Dei’s, 4.08%; and Dasa of 2.88%.

Judge Barroso asked federal and health entities to provide data on the impact of the measure. Several joined the constitutional challenge originally filed by CNSaúde as interested parties, representing service providers such as hospitals and clinics across the country.

They must do so within 60 days. After that, the Court’s 11 justices will vote on the matter.

The new law, which provides for a minimum wage around 30% higher than that paid today to all professionals in the nursing category, was sanctioned on August 4 by President Jair Bolsonaro and was due to come into force today. today.

Health care providers and local governments are trying to adjust rules and budgets to bear the costs of the new law, but they don’t have enough resources to do so.

In the draft, the estimated overall impact of the new law was BRL 16 billion per year, of which BRL 5.7 billion accrued to municipalities, states and public entities; BRL 5.4 billion from the private sector; and an additional BRL 5 billion on philanthropic service providers who primarily serve patients under the SUS public health system.

A investigation of more than 2,000 providers mandated by health sector entities two weeks ago estimates 83,000 layoffs and the possible closure of 20,000 beds with the adoption of the nursing salary floor without any compensation in return.

Originally proposed by a senator from the Workers’ Party, the party of former President Luiz Inácio Lula da Silva, the new law was approved in Congress without indicating the source of funding.

Mr Bolsonaro could have vetoed the wage floor, but he did not do so for fear of negative repercussions ahead of his re-election bid.

While the Lula campaign blame the government for not having planned a way to pay for the new measure, the government fears of the economic team that the Supreme Court will force the federal government to bear the new costs to relieve states and municipalities.

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