Welcome to our dedicated page for Tenet Healthcare news (Ticker: THC), a resource for investors and traders seeking the latest updates and insights on Tenet Healthcare stock.
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) announced a private placement offering of $1.450 billion in senior secured first lien notes due in 2030. Proceeds will finance the acquisition of assets related to 92 ambulatory surgery centers and cover general corporate purposes, including debt repayment. The notes will be secured on a first lien priority basis, effectively senior to existing debts. The offering will target qualified institutional buyers under Rule 144A of the Securities Act. The completion depends on market conditions.
Tenet Healthcare Corporation (NYSE: THC) will present at the Wolfe Research Virtual Healthcare Conference on November 18, 2021, at 11:00 a.m. Eastern time. Investors can access a live webcast and the audio archive via the investor relations section of Tenet's website, with the replay available for 30 days.
Headquartered in Dallas, Tenet operates over 60 hospitals and approximately 460 healthcare facilities, including surgery centers and clinics, employing more than 100,000 individuals. The company is dedicated to delivering quality care in the communities it serves.
Tenet Healthcare Corporation (NYSE: THC) and its subsidiary United Surgical Partners International (USPI) have announced a definitive agreement to acquire SurgCenter Development (SCD), encompassing 92 ambulatory surgery centers (ASCs) for approximately $1.2 billion. This acquisition aims to bolster USPI's leadership in the ambulatory surgery sector, further enhancing Tenet's EBITDA margins and free cash flow. A five-year partnership agreement will facilitate future development projects, focusing on musculoskeletal services. The deal is expected to close in Q4 2021, subject to regulatory approvals.
Tenet Healthcare Corporation (NYSE: THC) is set to present at the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, at 12:10 p.m. Eastern time. The presentation will be accessible via a live webcast on Tenet’s investor relations website, with a replay available for 30 days. Headquartered in Dallas, Tenet operates over 60 hospitals and approximately 460 healthcare facilities, including surgical hospitals and imaging centers. They provide a range of services, focusing on delivering quality, compassionate care to their communities.
Tenet Healthcare Corporation (NYSE: THC) reported a net income of $448 million for Q3’21, a significant recovery from a net loss of $197 million in Q3’20. Q3’21 Adjusted EBITDA was $855 million compared to $551 million in Q3’20. Diluted earnings per share rose to $4.12 from a loss of $1.87. Additionally, same-hospital adjusted admissions increased by 4.4%, with net patient service revenue per adjusted admission up by 6.2%. Tenet raised its FY 2021 outlook, projecting earnings between $7.09 and $7.50 per share. The company also completed a sale of its Miami-area hospitals, generating $1.1 billion.
United Surgical Partners International (USPI), a subsidiary of Tenet Healthcare Corporation (NYSE: THC), has signed a definitive agreement to acquire Compass Surgical Partners' interests in nine ambulatory surgery centers (ASCs) across Florida, North Carolina, and Texas. USPI will manage and jointly own these centers alongside approximately 125 physicians. The transaction, expected to close in Q4 2021, aligns with USPI's strategy of enhancing its portfolio of established and developing facilities, primarily focused on musculoskeletal procedures.
Tenet Healthcare Corporation (NYSE: THC) will announce its third quarter results for the period ending September 30, 2021, after market close on Wednesday, October 20, 2021. A conference call discussing these results is scheduled for the next morning, Thursday, October 21, 2021, at 10:00 a.m. Eastern time. Interested parties can access the live webcast via the investor relations section of Tenet's website. Tenet operates 60 hospitals and over 460 healthcare facilities, employing 102,000 people, with a mission to provide quality care in the communities served.
Tenet Healthcare Corporation (NYSE: THC) and Cigna Corporation (NYSE: CI) announced a new multi-year contract, ensuring Cigna customers have continued in-network access to Tenet’s healthcare facilities through 2025. This agreement, finalized four months ahead of the previous contract's expiration, emphasizes the importance of uninterrupted access to quality care amidst the ongoing pandemic. The collaboration will also expand access to lower-cost ambulatory surgery centers.
The contract takes effect on January 1, 2022.
Tenet Healthcare Corporation (NYSE: THC) announced the redemption of $1.100 billion of its 4.625% senior secured first lien notes due July 15, 2024. This strategic move aims to reduce future annual cash interest payments by about $50 million. The debt retirement will be financed through proceeds from the recent sale of five hospitals in Miami-Dade and Southern Broward counties. The redemption will occur on September 10, 2021, at a price of 101.156% of the principal, plus accrued interest, underscoring Tenet's commitment to long-term debt reduction.
Tenet Healthcare Corporation (NYSE: THC) announced a leadership transition, designating Saum Sutaria, M.D., as the new CEO effective September 1, 2021. Ron Rittenmeyer will remain as Executive Chairman through 2022, maintaining oversight during this transition. Rittenmeyer emphasized the importance of quality care and a robust succession plan throughout his tenure. Sutaria, who joined Tenet in 2019 and previously worked at McKinsey & Company, expressed his commitment to enhancing healthcare services and community partnerships as he steps into this pivotal role.