Every 8-K that Tenet Healthcare Corporation New (THC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow THC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full THC filings page.
Tenet Healthcare Corporation (THC) announced a private placement of $2.0 billion aggregate principal amount of 6.250% senior notes due September 15, 2034, upsized from a previously announced $1.5 billion offering. Completion is expected on September 22, 2026, subject to customary closing conditions.
Tenet plans to use the net proceeds, together with cash on hand, to redeem $1.5 billion of its 5.125% senior secured first lien notes due November 2027 and $0.5 billion of its 6.125% senior notes due October 2028, with redemptions expected on September 23, 2026. The new notes will be unsecured senior obligations, ranking pari passu with other senior unsecured debt, senior to subordinated obligations, effectively subordinated to secured debt to the extent of collateral value, and structurally subordinated to obligations of subsidiaries.
Tenet Healthcare reported strong results for the quarter ended June 30, 2026. Net operating revenues were $5.628 billion, up 6.8% year over year. Net income available to common shareholders rose to $826 million, or $9.84 per diluted share, from $288 million, or $3.14, in 2025. Adjusted diluted EPS increased 52.2% to $6.12. Consolidated Adjusted EBITDA was $1.304 billion, up 16.3%, with a 23.2% margin, and management indicated this exceeded prior second‑quarter guidance.
Ambulatory Adjusted EBITDA grew to $542 million, while Hospital Adjusted EBITDA increased to $762 million with margin improving to 18.0%, supported by higher acuity and additional Medicaid supplemental revenues. For the first six months, net cash from operations was $2.226 billion. The company repurchased 5.68 million shares for $1.042 billion in the quarter, and the board approved a $2.0 billion expansion of the repurchase program, leaving $2.13 billion authorized. Tenet raised its 2026 outlook, guiding to Adjusted EBITDA of $4.83–$5.03 billion and adjusted free cash flow of $2.725–$3.025 billion.
Tenet Healthcare Corporation reported the results of its 2026 Annual Meeting of Shareholders held on May 27, 2026. Shareholders elected all nominated directors to the Board, with each receiving more than 71 million votes in favor and relatively few votes against or abstentions.
Shareholders also approved, on an advisory basis, the Company’s executive compensation, with 62,554,346 votes for and 11,817,273 against, plus a small number of abstentions and broker non-votes. In addition, shareholders ratified the selection of Deloitte & Touche LLP as the independent registered public accountants for the year ending December 31, 2026, with 79,422,386 votes in favor and minimal opposition.
Tenet Healthcare reported strong first quarter 2026 results, with net income available to common shareholders of $702 million, or $8.01 per diluted share, up from $406 million, or $4.27, a year earlier. Net operating revenues rose to $5.37 billion from $5.22 billion.
Adjusted diluted EPS increased 10.6% to $4.82, while consolidated Adjusted EBITDA was essentially flat at $1.16 billion and a 21.6% margin. Results included $413 million of revenue and an approximate $40 million favorable non‑recurring pre‑tax impact from early conclusion of a Conifer contract with CommonSpirit Health.
Operating cash flow for the quarter was $1.64 billion, and adjusted free cash flow was $978 million. Tenet repurchased 1.35 million shares for $318 million and ended March 31, 2026 with a net debt to Adjusted EBITDA ratio of 2.24x. Full‑year 2026 guidance calls for net operating revenues of $21.5–$22.3 billion and Adjusted EBITDA of $4.49–$4.79 billion.
Tenet Healthcare Corporation has entered into a Retirement Transition Agreement with Executive Vice President and Chief Information Officer Paola Arbour. She will retire from her CIO role effective December 31, 2026, then move to a part-time, non-executive position providing transition support through April 1, 2028.
After her full-time employment ends, Ms. Arbour will receive a weekly salary of $820, remain eligible for a 2026 bonus under the Annual Incentive Plan (but not for 2027), and her outstanding equity awards will continue to vest under existing terms. She will also continue participation in medical, dental and prescription benefit plans and keep vesting and service credit in the Executive Retirement Account through April 1, 2028. The agreement includes a general release of claims in favor of the company and requires a confirming release in 2028.
Tenet Healthcare Corporation announced leadership changes in its accounting function. Senior Vice President & Controller and Principal Accounting Officer R. Scott Ramsey will now retire effective April 30, 2026, and continue part-time with the company through March 31, 2028, to provide transition support.
Effective April 6, 2026, Tenet is appointing J. Michael Grooms, age 48, as Senior Vice President & Controller, and he will become Principal Accounting Officer on May 1, 2026. Under his offer letter, Grooms will receive a $475,000 base salary, a target cash bonus equal to 60% of salary, an initial $500,000 RSU grant, eligibility for a 2027 equity award of about $350,000, a $250,000 cash sign-on bonus, and relocation benefits.
Tenet Healthcare reported strong fourth quarter and full-year 2025 results and issued a detailed 2026 outlook. Q4 2025 net income available to common shareholders was $371 million, or $4.22 per diluted share, with adjusted diluted EPS up 36.6% to $4.70. Q4 Adjusted EBITDA rose 12.9% to $1.183 billion, for a 21.4% margin.
For 2025, net operating revenues were $21.31 billion, Adjusted EBITDA was $4.566 billion, and free cash flow reached $2.53 billion, up from $1.116 billion in 2024. The Ambulatory segment delivered 2025 Adjusted EBITDA of $2.026 billion, while the Hospital segment generated $2.54 billion, both with margin expansion.
Tenet highlighted a major Conifer transaction with CommonSpirit, including $1.9 billion of payments to Tenet over three years and approximately $1.65 billion of 2026 revenue from contract termination, alongside about $500 million of tax expense and roughly $150 million of related tax payments. In 2025 the company repurchased 8.8 million shares for $1.386 billion, refinanced debt, and reduced its net debt-to-Adjusted EBITDA ratio to 2.25x from 2.54x.
Tenet Healthcare Corporation expects its Adjusted EBITDA for the year ended December 31, 2025 to be at the upper end of its current guidance range of $4.47 billion to $4.57 billion, signaling stronger-than-planned operating performance.
The company also entered into an Omnibus Agreement with its Conifer subsidiaries and CommonSpirit Health (formerly Catholic Health Initiatives). CHI will pay an aggregate $1.9 billion to Tenet in annual installments over three years, with $540 million satisfied on January 27, 2026 by offsetting an equal amount owed by Conifer Health. Conifer Health is redeeming CHI’s 23.8% equity interest for $540 million, effective January 1, 2026, and the transaction is expected to reduce Tenet’s redeemable non‑controlling interest and other liabilities by about $885 million and increase additional paid‑in capital by about $305 million.
Tenet Healthcare Corporation reported that Stephen H. Rusckowski has resigned from its board of directors, effective immediately, as of November 21, 2025. Following his departure, the board reduced its size from thirteen to twelve directors. The filing does not describe any changes to management roles or the company’s strategic direction beyond this board adjustment.
Tenet Healthcare Corporation issued new senior notes to refinance existing debt. The company sold $1,500,000,000 of 5.500% senior secured first lien notes due 2032 and $750,000,000 of 6.000% senior notes due 2033. Tenet plans to use the net proceeds, together with cash on hand, to redeem all $1.5 billion of its 6.250% senior secured second lien notes due February 2027 and to partially redeem $0.75 billion of its 6.125% senior notes due October 2028.
The new indentures include covenants that limit certain activities like incurring liens, entering sale and lease-back transactions, and major asset sales, but they allow Tenet and its subsidiaries to incur additional indebtedness and make dividends or other distributions. The notes may be redeemed by Tenet before or after November 15, 2028 at specified prices, including make-whole premiums if redeemed early.
Tenet Healthcare Corporation entered a new senior secured asset‑based revolving credit facility of up to $1.9 billion, including a $200 million sub‑facility for letters of credit. Borrowing availability is tied to a borrowing base of eligible accounts receivable, inventory and Medicaid supplemental payments. The facility is guaranteed by certain domestic wholly owned hospital subsidiaries and secured by a first‑priority lien on accounts receivable and inventory.
Loans bear interest at a base rate plus 0.25%–0.50% or SOFR/EURIBOR plus 1.25%–1.50%, with a 0.25% commitment fee on undrawn commitments. It terminates on November 4, 2030 or earlier upon specified springing maturities tied to certain senior notes, subject to stated conditions. Tenet also amended and extended its separate $200 million letter of credit facility to November 4, 2030, with an unused fee of 0.25% and a 1.25% fee on issued but undrawn letters; unreimbursed drawings accrue at base rate plus 0.25%.
Tenet Healthcare (THC) announced private offerings of $1.5 billion of 5.500% senior secured first lien notes due 2032 and an upsized $0.75 billion of 6.000% senior notes due 2033, with closings expected on November 18, 2025, subject to customary conditions. The first lien notes will be guaranteed by certain subsidiaries and secured on a first-lien basis; the senior notes are unsecured and rank pari passu with Tenet’s existing senior unsecured obligations.
The company plans to use net proceeds, together with cash on hand, to redeem all $1.5 billion of its 6.250% senior secured second lien notes due February 2027 and to partially redeem $0.75 billion of its 6.125% senior notes due October 2028. Tenet issued conditional redemption notices for both series, with redemptions scheduled for November 19, 2025. The transaction shifts maturities to 2032/2033 and lowers stated coupons on the refinanced debt.
Tenet Healthcare Corporation furnished a Form 8-K under Item 2.02 to announce it issued a press release with financial results for the quarter ended September 30, 2025. The company attached the release as Exhibit 99.1 and incorporated it by reference.
The information was furnished, not filed, under the Exchange Act. Tenet lists its securities as common stock (THC) and 6.875% Senior Notes due 2031 (THC31).