Shares of Tenet Healthcare Corp. rose to their highest point in nearly seven years Friday on hopes that the hospital operator will benefit from coverage expansions under the health care overhaul.

THE SPARK: Tenet's CEO Trevor Fetter said at J.P. Morgan's annual health care conference in San Francisco Thursday that his company's exposure to large populations of uninsured people in markets like Texas and Florida will be reduced in 2014.

That year, the overhaul expands the state-federal Medicaid program to cover more people, and it will provide income-based tax credits to help many people who don't qualify for Medicaid pay for coverage.

"Tenet's geographic footprint will enable us to capture significant benefits from the coverage expansion that's created by the (overhaul)," Fetter said.

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