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) will present at the 2021 J.P. Morgan Healthcare Conference on January 12, 2021, at 10:00 a.m. EST. The event can be accessed via a live webcast on Tenet’s investor relations website. An audio archive will be available for 30 days post-event.
Tenet is a leading healthcare services provider based in Dallas, employing 110,000 individuals. It operates 65 hospitals and approximately 560 healthcare facilities, including surgical centers and urgent care locations. Tenet's mission focuses on delivering quality care to the communities it serves.
Tenet Healthcare (NYSE: THC) has finalized an agreement with FastMed Urgent Care for FastMed to acquire Tenet's urgent care platform, including 87 CareSpot and MedPost centers. This acquisition enhances FastMed's presence in Arizona and Texas and allows expansion into Florida and California. Tenet aims to focus on growing its ambulatory surgical services post-transaction. This strategic move is expected to close in Q1 2021, pending regulatory approvals.
Tenet Healthcare (NYSE: THC) announced its acquisition of a portfolio of up to 45 ambulatory surgery centers (ASCs) from SurgCenter Development for approximately $1.1 billion in cash, while assuming $18 million in debt. This deal will enhance Tenet's ambulatory surgery platform through its subsidiary, United Surgical Partners International (USPI). The acquisition positions Tenet as the leading provider of musculoskeletal surgeries in the U.S. and is expected to generate double-digit returns on invested capital within three years, with an estimated 28% accretion to earnings per share in 2021.
Tenet Healthcare Corporation (NYSE: THC) will present at the BofA Securities 2020 Leveraged Finance Virtual Conference on December 1, 2020, at 9:45 a.m. Eastern time. A live webcast and audio archive will be accessible via Tenet's investor relations website for about 30 days post-event. Tenet, headquartered in Dallas, employs 110,000 individuals and operates 65 hospitals along with approximately 520 other healthcare facilities, including surgical and urgent care centers. The company also manages Conifer Health Solutions, providing revenue cycle management and care services.
Tenet Healthcare Corporation (NYSE: THC) has appointed Saum Sutaria, M.D., as a member of its Board of Directors, expanding the board to 11 members. Sutaria, who has been the President and COO since 2019, is credited with enhancing care delivery and driving growth during challenging times, particularly through the pandemic. With a robust background in healthcare consulting and academic training in internal medicine and cardiology, his addition to the board is seen as a positive development for Tenet's strategic direction.
Tenet Healthcare Corporation (THC) reported its 3Q20 results, facing challenges from a 64% surge in COVID-19 cases. The company achieved an Adjusted EBITDA of $621 million, while cash flows rose by 26% year-over-year. Despite a net loss of $197 million attributable to common shareholders, the loss per diluted share improved to $1.87 from $2.19 in 3Q19. Tenet maintained strong liquidity with $3.3 billion in cash, having no borrowings on its $1.9 billion credit line. The company continues to navigate operational hurdles and anticipates ongoing growth in service lines to bolster future performance.