Accretive Health plunges on allegations it broke laws

Wed Apr 25, 2012 2:41pm EDT

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(Reuters) - Shares of Accretive Health Inc plunged as much as 29 percent after Minnesota's attorney general alleged that the collection agency had violated patient privacy and debt collection laws.

Attorney General Lori Swanson accused the company of placing debt collectors in emergency rooms and demanding payments from patients before they receive treatment.

Shares of the Chicago-based company were down 27 percent at $13.42 on Wednesday in afternoon trade on the New York Stock Exchange. They touched an 18-month low of $13.13.

(Reporting by Balaji Sridharan in Bangalore; Editing by Sriraj Kalluvila)

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