Tenet Completes Sale of Five Hospitals in the Miami-Dade/Southern Broward Area

Rhea-AI Summary

Tenet Healthcare Corporation (NYSE: THC) has completed the sale of its five hospitals in Miami-Dade and Southern Broward counties, which includes Coral Gables Hospital, Florida Medical Center, Hialeah Hospital, North Shore Medical Center, and Palmetto General Hospital. The sale encompasses related operations, and associated physician practices, but Tenet's ambulatory facilities operated by United Surgical Partners International in these areas will remain with the company. This transaction signifies Tenet's strategic shift within the healthcare market.

Positive

• Strategic divestment may streamline operations and focus on core business areas.
• Retaining ambulatory facilities ensures continued operational presence in the Miami market.

Negative

• Loss of five hospitals could result in decreased revenue streams and market presence.
• Potential operational challenges in the transition and integration of remaining facilities.

Tenet Healthcare Corporation (NYSE: THC) today announced that it has completed the sale of its five hospitals and related operations in the Miami-Dade and Southern Broward counties. The transaction includes Coral Gables Hospital, Florida Medical Center, Hialeah Hospital, North Shore Medical Center and Palmetto General Hospital, as well as associated physician practices and other entities. Tenet’s ambulatory facilities operated by United Surgical Partners International in these markets will remain with Tenet and are not included in the transaction.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas with 102,000 employees. Through an expansive care network that includes United Surgical Partners International, we operate 60 hospitals and more than 460 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, imaging centers and other care sites and clinics. We also operate Conifer Health Solutions, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. Across the Tenet enterprise, we are united by our mission to deliver quality, compassionate care in the communities we serve. For more information, please visit www.tenethealth.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210802005207/en/

FAQ

What hospitals did Tenet Healthcare sell in Miami-Dade and Southern Broward counties?

Tenet Healthcare sold Coral Gables Hospital, Florida Medical Center, Hialeah Hospital, North Shore Medical Center, and Palmetto General Hospital.

What remains with Tenet Healthcare after the hospital sale?

Tenet retains its ambulatory facilities operated by United Surgical Partners International in these markets.

When was the sale of the Miami-Dade hospitals completed?

The sale was completed today as announced by Tenet Healthcare.

How might the sale of hospitals impact Tenet Healthcare's stock (THC)?

The sale could impact Tenet's revenue streams and market presence, potentially influencing stock performance.