Welcome to our dedicated page for Tenet Healthcare Corporation New news (Ticker: THC), a resource for investors and traders seeking the latest updates and insights on Tenet Healthcare Corporation New stock.
Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas, Texas. With a workforce of approximately 115,000 employees, Tenet is committed to helping people live happier and healthier lives through a variety of healthcare facilities and services.
Tenet's portfolio includes 60 acute care and specialty hospitals, along with over 450 ambulatory surgery centers and other outpatient facilities spread across the U.S., primarily in the Southern regions. These facilities provide a range of medical services, from urgent care to complex surgical procedures.
A significant part of Tenet's operations is managed through its subsidiary, Conifer Health Solutions, which offers technology-enabled performance improvement and health management solutions. Conifer's services extend to hospitals, health systems, physician practices, self-insured organizations, and health plans, ensuring efficient revenue cycle management and value-based care.
Tenet’s partnership with United Surgical Partners International (USPI) forms the largest ambulatory surgery platform in the country, operating or holding interests in more than 480 surgical centers and hospitals. This extensive network ensures that patients have access to top-notch surgical care in convenient outpatient settings.
One of the significant recent achievements for Tenet is its strategic agreement to sell three hospitals in South Carolina to Novant Health for approximately $2.4 billion. These hospitals include Hilton Head Hospital in Beaufort County, Coastal Carolina Hospital in Jasper County, and East Cooper Medical Center in Charleston County. This transaction is expected to close early next year, subject to regulatory approvals. This move is part of Tenet’s strategy to optimize its portfolio and focus on markets and facilities where it can provide the most value.
Additionally, Tenet has entered into a definitive agreement with the Regents of the University of California to sell its Pacific Coast Network, which includes four medical centers in Orange County. This acquisition is expected to enhance UCI Health's capabilities and expand its reach in providing advanced healthcare services. These strategic transactions align with Tenet’s ongoing commitment to deliver quality, compassionate care in the communities it serves.
Overall, Tenet Healthcare Corporation continues to play a vital role in the U.S. healthcare landscape through its diverse range of services and strategic partnerships, ensuring quality care for millions of patients annually.
Tenet Healthcare (NYSE: THC) reported strong Q3 2024 results with net income of $472 million ($4.89 per diluted share), including a $209 million after-tax gain from hospital divestitures. Consolidated Adjusted EBITDA reached $978 million, up 14.5% year-over-year. The company's Ambulatory Care segment showed impressive growth with Adjusted EBITDA of $439 million, increasing 18.6%. Based on strong performance, Tenet raised its FY 2024 Adjusted EBITDA outlook to $3.9-4.0 billion, a $50 million increase. The company demonstrated robust cash flow generation with $2.378 billion from operating activities for the first nine months of 2024.
Tenet Healthcare (NYSE: THC) has announced its upcoming participation in the UBS Global Healthcare Conference. The presentation is scheduled for Tuesday, November 12, 2024, at 12:30 p.m. Eastern time. Investors and interested parties can access a live webcast of the presentation through Tenet's investor relations website. The presentation recording will remain available for replay on the company's website for 30 days following the event.
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.
FAQ
What is the current stock price of Tenet Healthcare Corporation New (THC)?
What is the market cap of Tenet Healthcare Corporation New (THC)?
What services does Tenet Healthcare Corporation provide?
Where is Tenet Healthcare Corporation headquartered?
How many hospitals does Tenet operate?
What is United Surgical Partners International (USPI)?
What is Conifer Health Solutions?
What recent acquisitions has Tenet been involved in?
What is the mission of Tenet Healthcare Corporation?
How many employees does Tenet Healthcare Corporation have?
Which regions does Tenet primarily serve?
How can I find more information about Tenet Healthcare Corporation?
