Tenet Healthcare Corporation reports developments across a diversified healthcare services business that combines ambulatory surgery, hospital operations and healthcare-services outsourcing. Its care delivery network includes United Surgical Partners International, which operates ambulatory surgery centers and surgical hospitals, along with acute care and specialty hospitals, outpatient facilities, employed physician networks and a global business center in Manila.
Recurring news themes for THC include quarterly earnings, financial outlooks, same-facility revenue trends, Ambulatory and Hospital segment performance, payer-mix and expense-management commentary, and capital or ownership actions involving Conifer Health Solutions. Company updates also cover Conifer's revenue cycle management and value-based care services for hospitals, health systems, physician practices, employers and other clients, as well as Tenet's presentations at healthcare investor conferences.
Tenet Healthcare Corporation (NYSE: THC) is set to release its first quarter results for the period ending March 31, 2022, after market close on April 20, 2022. A conference call will be held the following morning, April 21, at 10:00 a.m. ET. Investors can access the live webcast and audio archive through the investor relations section of Tenet’s website. Tenet Healthcare operates 60 hospitals and approximately 550 other healthcare facilities, emphasizing quality, compassionate care across its expansive network.
Tenet Healthcare Corporation (NYSE: THC) has appointed Will McDowell as its new Vice President of Investor Relations, effective March 31, 2022. McDowell brings over two decades of healthcare experience, most recently at Cigna, where he held several leadership roles including Vice President of Strategy and Corporate Development. His responsibilities included enhancing investor relationships and overseeing ESG matters. McDowell aims to reinforce Tenet's commitment to shareholder value creation and effectively communicate the company's growth strategy.
Tenet Healthcare Corporation (NYSE: THC) announced an amendment to its senior secured revolving credit facility, effective March 16, 2022. The key changes include aggregate revolving commitments of up to $1.5 billion, extending the maturity date to March 16, 2027, and replacing LIBOR with Term SOFR as the reference interest rate. The credit facility is secured by a first-priority lien on accounts receivable and inventory and guaranteed by certain subsidiaries. This financial maneuver reflects Tenet’s strategic response to the evolving financial landscape amidst the ongoing challenges of the healthcare sector.
Tenet Healthcare Corporation (NYSE: THC) will participate in two investor conferences in March 2022. The first is the Raymond James Institutional Investors Conference on March 8, beginning at 8:40 a.m. Eastern time, and the second is the Barclays Global Healthcare Conference on March 15, starting at 10:45 a.m. Eastern time. Interested parties can access live webcasts and audio archives on Tenet's investor relations website for 30 days following each presentation. Tenet operates 60 hospitals and around 550 other healthcare facilities across the U.S., emphasizing quality care.
Tenet Healthcare Corporation (NYSE: THC) announced its decision to retain its subsidiary, Conifer Health Solutions, after evaluating shareholder value creation opportunities. This choice was influenced by significant improvements in financial metrics, including a 1,000 basis point increase in Conifer's Adjusted EBITDA margin since 2017. Expectations project mid- to high-single digit revenue growth for Conifer in FY 2022, bolstered by new client acquisitions and a strong cash flow profile. Tenet reaffirmed its financial outlook for FY 2022 in this context.
Tenet Healthcare Corporation (NYSE: THC) announced the redemption of all $700 million of its 7.500% senior secured first lien notes due April 1, 2025. The redemption will occur on February 23, 2022, using available cash, resulting in a total expected cost of approximately $730 million. This strategic move will reduce future annual cash interest payments by around $53 million, indicating a proactive effort to improve financial health.
Tenet Healthcare Corporation (NYSE: THC) reported Q4’21 net income of $250 million ($2.30 per diluted share), a decline from $414 million ($3.86 per diluted share) in Q4’20. Adjusted EBITDA fell to $1.017 billion from $1.278 billion year-over-year. For FY 2021, net income rose to $915 million, with adjusted diluted EPS of $7.58. The company is optimistic about FY 2022, projecting income per share between $4.56 and $6.16 and adjusted EBITDA of $3.375 to $3.575 billion. Tenet also acquired 86 surgery centers, enhancing its growth strategy.
GI Alliance has formed a new joint venture with United Surgical Partners International (USPI) to enhance gastroenterology services in Texas. The joint venture holds a majority stake in two endoscopy centers in San Antonio and Lubbock, Texas, which are accredited by reputable organizations. This partnership aims to provide high-quality outpatient care and allows physicians to maintain focus on patient care. GI Alliance supports over 665 gastroenterologists across multiple states, while USPI operates over 430 ambulatory facilities nationwide.
Tenet Healthcare Corporation (NYSE: THC) will release its fourth quarter results for the period ending December 31, 2021, after market close on February 7, 2022. A conference call is scheduled for February 8, 2022, at 10:00 a.m. Eastern time to discuss the results. Investors can access a live webcast and the audio archive via the investor relations section of Tenet's website.
Tenet operates a vast care network, including 60 hospitals and approximately 550 other healthcare facilities. Their mission is to provide quality, compassionate care in the communities they serve.
Tenet Healthcare Corporation (NYSE: THC) will present virtually at the J.P. Morgan Healthcare Conference on January 11, 2022, at 3:00 p.m. Eastern time. A live webcast, along with an audio archive of the event, can be accessed through the investor relations section of Tenet's website, with a replay available for 30 days. Tenet operates a wide range of healthcare services, including 60 hospitals and approximately 550 other healthcare facilities. Their mission is to provide quality, compassionate care to communities served.