Pan-European hospital group Capio reckons that productivity gains from shorter hospital stays should enable it to achieve 4% organic sales growth across its operations in Sweden, Norway, Germany and France. But tariff cuts in France and a nasty bout of flu in Germany meant it only hit 2.3% for the third quarter and 2.9% for the first nine months. Capio IPOed in June 2015. Its shares fell SEK1.25 to 53SEK on the news but still trade above the SEK48.5 IPO price.