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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 Corporation (NYSE: THC) announces the retirement of Audrey Andrews, General Counsel, effective December 31, 2021. Tom Arnst, currently overseeing Human Resources, will take on Andrews' role, expanding his responsibilities as Executive Vice President, Chief Administrative Officer, and General Counsel. Arnst's extensive experience in healthcare and regulatory compliance is expected to facilitate a smooth transition. CEO Ron Rittenmeyer praised Andrews for her two decades of service, highlighting her expertise and mentorship. Tenet continues to focus on internal talent development.
Tenet Healthcare Corporation (NYSE: THC) announced the appointment of Muthu Krishnan as chief technology officer of its subsidiary, Conifer Health Solutions, effective April 26. Krishnan, with over 25 years of experience, will align technology strategies to drive innovation and oversee various IT teams. His previous roles include chief digital transformation officer at IKS Health and CTO at IntegraCloud. Conifer Health specializes in tech-enabled revenue cycle services, managing over 17 million patient interactions and $25 billion in net patient revenue annually.
Tenet Healthcare Corporation (NYSE: THC) will report its Q1 2021 results after market close on April 20, 2021. The company will conduct a conference call on April 21, 2021, at 10:00 a.m. Eastern time to discuss the results.
Investors can access the live webcast and audio archive through Tenet's investor relations page at www.tenethealth.com/investors.
Headquartered in Dallas, Tenet operates 65 hospitals and approximately 550 healthcare facilities, committed to delivering quality care in communities.
Conifer Health Solutions, a subsidiary of Tenet Healthcare Corporation (NYSE: THC), has announced a multi-year contract extension with NorthShore University HealthSystem. This extension continues their 20-year partnership to provide physician revenue cycle services through 2024. The contract enhances NorthShore’s operational efficiencies and cash collections via comprehensive accounts receivable services. Additionally, Conifer played a key role in integrating Swedish Hospital into the NorthShore system. The announcement underscores Conifer's commitment to delivering value through revenue cycle expertise and innovative solutions.
Tenet Healthcare Corporation (NYSE: THC) will present at the Barclays Global Healthcare Conference on March 10, 2021, at 9:10 a.m. Eastern time. A live webcast and an audio archive of the event will be available on Tenet’s investor relations website for 30 days after the presentation.
Headquartered in Dallas, Tenet Healthcare employs 110,000 people and operates 65 hospitals alongside approximately 550 healthcare facilities. The company is focused on delivering quality care and includes services such as revenue cycle management through Conifer Health Solutions.
Tenet Healthcare Corporation (NYSE: THC) will present at the Raymond James Institutional Investors Conference on March 2, 2021, at 9:10 a.m. Eastern time. A live webcast and audio archive of the event will be available on Tenet's investor relations page for 30 days. Tenet, headquartered in Dallas, employs 110,000 people and operates 65 hospitals alongside around 550 healthcare facilities, including surgical and urgent care centers. The company aims to provide quality care across communities it serves.
Conifer Health Solutions, a subsidiary of Tenet Healthcare Corporation (NYSE: THC), has expanded its partnership with LCMC Health to enhance physician accounts receivable management and COVID-19 vaccine scheduling services. Initially providing eligibility and enrollment services for one hospital, Conifer now supports five LCMC facilities. This collaboration aims to improve revenue cycle management, allowing LCMC to focus on patient care. Conifer's commitment is underscored by its extensive healthcare expertise, managing over $25 billion in net patient revenue annually.
On February 10, 2021, Glenview Capital Management, Tenet Healthcare's largest shareholder, publicly supported the spin-off of Tenet's Conifer subsidiary in a tax-free transaction set for mid-2022. Glenview's CEO, Larry Robbins, praised Tenet's focus on patient and worker safety during the Covid-19 pandemic and emphasized that the spin-off would enhance Conifer's growth and shareholder value. With $3.5 billion in assets under management, Glenview aims to aid Tenet in evolving towards a higher ambulatory mix and promoting strong cash generation.
Tenet Healthcare Corporation (NYSE: THC) reported strong financial results for 4Q20, achieving a net income of $414 million or $3.86 per diluted share, compared to a loss in 4Q19. Full-year adjusted EBITDA reached $3.146 billion, with a notable 7.5% increase in the hospital segment's adjusted EBITDA. The company also completed the acquisition of 45 ambulatory surgical centers for approximately $1.1 billion, enhancing its operational scope. Additionally, Tenet plans to retire $478 million in debt, reducing future interest payments by $33 million, further reflecting its strategic financial management.
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