Pathology company shares tanked on MYEFO cuts today

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Investors dropped pathology companies Primary Health Care and Sonic Healthcare after the federal government announced cuts to diagnostic services.

Primary Health care lost almost 10% to $2.58 and Sonic almost 6% to $18.50.

The budget update, MYEFO, announced $639 million in savings from bulk billing changes to pathology and imaging services.

Health insurance group Medibank Private was down 2.8% to $2.06.

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