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 (NYSE: THC) has announced it will release its third quarter 2024 financial results before the market opens on Tuesday, October 29, 2024. Following the release, the company will host a conference call at 9:00 a.m. CT (10:00 a.m. Eastern Time) to discuss the results.
Investors and interested parties can access a live webcast and audio archive of the conference call through the investor relations section of Tenet's website at www.tenethealth.com/investors. This announcement provides shareholders and analysts with a specific date to anticipate the company's latest financial performance update.
Tenet Healthcare (NYSE: THC) has completed the sale of its 70% majority ownership interest in Brookwood Baptist Health in Birmingham to Orlando Health. The transaction includes five hospitals: Brookwood Baptist Medical Center, Citizens Baptist Medical Center, Princeton Baptist Medical Center, Shelby Baptist Medical Center, and Walker Baptist Medical Center, along with other related operations.
As part of the deal, Tenet's subsidiary, Conifer Health Solutions, has entered into a ten-year contract to provide comprehensive revenue cycle management services for these operations. This sale aligns with previously disclosed terms and marks a significant change in Tenet's portfolio in the Birmingham area.
Tenet Healthcare (NYSE: THC) will present at the 2024 Wells Fargo Healthcare Conference on Wednesday, September 4, 2024, starting at 9:30 a.m. Eastern time. This event will be live webcasted and archived audio can be accessed via the investor relations section on Tenet's website, www.tenethealth.com/investors. The replay will be available for 30 days.
Tenet Healthcare (NYSE: THC) has announced a definitive agreement to sell its 70% majority ownership in Brookwood Baptist Health in Birmingham to Orlando Health for $910 million in cash. The deal includes five hospitals and related operations, with after-tax proceeds of approximately $790 million. Tenet's Conifer Health Solutions will enter a new 10-year contract for revenue cycle management services. The transaction is expected to complete in fall 2024, subject to regulatory approvals. Tenet estimates a pre-tax book gain of $375 million from this deal. For the twelve months ended June 30, 2024, Tenet's equity interest in Brookwood Baptist Health generated $12 million in pre-tax income and $60 million in Adjusted EBITDA less non-controlling interest. Tenet has reaffirmed its FY24 Adjusted EBITDA Outlook.
Tenet Healthcare (NYSE: THC) reported strong Q2 2024 results, surpassing expectations. Key highlights include:
- Net income of $259 million or $2.64 per diluted share
- Adjusted EBITDA of $945 million, up 12.1% year-over-year
- Ambulatory Care Adjusted EBITDA of $447 million, up 20.8%
- New $1.5 billion share repurchase program authorized
The company raised its FY 2024 outlook, now expecting Adjusted EBITDA of $3.825-$3.975 billion and Free Cash Flow of $1.100-$1.350 billion. Strong performance was driven by volume and revenue growth, improved operating efficiency, and portfolio transformation.
Tenet Healthcare (NYSE: THC) will release its second quarter 2024 financial results on July 24, 2024, by 6:00 a.m. Central Time (CT).
This will be followed by a conference call at 9:00 a.m. CT (10:00 a.m. Eastern Time), which will be available via live webcast and audio archive on Tenet’s investor relations section of their website.
Tenet Healthcare (THC) will be participating in the BofA Securities 2024 Health Care Conference on May 14, 2024. Investors can access the live webcast and audio archive on Tenet's investor relations website.
Tenet Healthcare (Tenet) (NYSE: THC) reported strong financial results for the first quarter of 2024, exceeding guidance and raising their 2024 financial outlook. Key highlights include net income of $2.151 billion, adjusted diluted earnings per share of $3.22, and an increase in Consolidated Adjusted EBITDA by 23.1%. The company has shown growth in revenues, admissions, and profitability, attributing it to operational excellence and strategic decisions. Cash flows and debt reduction have also improved. Recent transactions include retiring senior notes and completing hospital sales, impacting future interest payments positively. The outlook for 2024 shows strong projections across segments.
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