Tenet Completes Sale of Urgent Care Platform

Rhea-AI Summary

Tenet Healthcare Corporation (NYSE: THC) has finalized the sale of its urgent care platform to FastMed for $80 million. The deal encompasses 87 CareSpot and MedPost centers previously managed by Tenet’s United Surgical Partners International (USPI). This strategic divestiture aligns with Tenet's focus on optimizing its healthcare services and streamlining operations.

Positive

• Completed sale of urgent care platform enhances capital position.
• Transaction generates $80 million for reinvestment.

Negative

• Sale of 87 care centers could impact service availability in certain markets.

Tenet Healthcare Corporation (NYSE: THC) today announced that it has completed the sale of its urgent care platform to FastMed for $80 million. The transaction includes the sale of 87 CareSpot and MedPost centers, which were previously managed by Tenet’s United Surgical Partners International (USPI) subsidiary.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas with 108,000 employees. Through an expansive care network that includes United Surgical Partners International, we operate 65 hospitals and more than 450 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/20210430005430/en/

FAQ

What is the recent sale by Tenet Healthcare Corporation (THC)?

Tenet Healthcare announced the sale of its urgent care platform to FastMed for $80 million.

How many centers did Tenet sell to FastMed?

Tenet sold 87 CareSpot and MedPost centers to FastMed.

What will Tenet Healthcare do with the $80 million from the sale?

The $80 million generated from the sale may be reinvested to optimize Tenet's healthcare services.

How does the sale affect Tenet's business operations?

The sale allows Tenet to streamline its operations but may impact service availability in certain markets.

When was the urgent care platform sold by Tenet Healthcare?

The sale was announced today.