It estimates the new centers, which will become part of Tenet’s United Surgical Partners International ambulatory business, will create $210 million in annual pre-tax profit, according to the company’s investor presentation. You can sign up for additional alert options at any time. The surgical centers employ 800 staff physicians. THC | Complete Tenet Healthcare Corp. stock news by MarketWatch. ... Dom is a staff writer covering breaking business news. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. Stock analysis for Tenet Healthcare Corp (THC:New York) including stock price, stock chart, company news, key statistics, fundamentals and company profile. View real-time stock prices and stock quotes for a full financial overview. Online News Monitoring Made Simple. When the transaction is completed, the USPI business will include a total of 310 ambulatory surgical facilities in 33 states. Ciena Corp., down $1.08 to $46.10. Unusual Options Activity Insight: Tenet Healthcare benzinga.com - October 8 at 12:04 PM: KILL Imagine Health Partners with Tenet Healthcare to Lower Cost of Healthcare for South Florida Employers bloomberg.com - October 1 at 3:52 PM: CIO for Tenet Healthcare on how pivots for pandemic will pay off in future bizjournals.com - October 1 at 5:52 AM Tenet expects its acquisition to generate “double-digit returns” on invested capital within three years of completion. The portfolio of new facilities has “generated strong growth and recovery from COVID-19,” according to Tenet. Musculoskeletal pain affects the bones, muscles, ligaments, tendons and nerves, with lower back pain being the most common type. Tenet Healthcare estimates Q4 adj. Tenet first began acquiring surgical centers from SCD about 15 years ago. He writes about the companies and transactions that shape life in North Texas. Press Release reported on 01/14/21 that Tenet to Report its Fourth Quarter Results on February 9. By signing up you agree to our privacy policy, Stand with us in our mission to discover and uncover the story of North Texas. Tenet to Acquire Portfolio of Surgery Centers from SurgCenter Development. Tenet Healthcare to acquire portfolio of 45 ambulatory surgery centers for $1.1 billion in cash Provided by Dow Jones Dec 10, 2020 12:43 PM UTC Business Wire It expects to complete the transaction by the end of December, Tenet CEO Ron Rittenmeyer said on a call with investors. Farmers Branch-based Tenet Healthcare will purchase a portfolio of 45 surgery centers from SurgCenter Development for $1.1 billion. The agreement will allow Tenet to "sharpen [its] focus" on growing out its ambulatory surgical services, said Ron Rittenmeyer, the Executive Chairman and CEO of Tenet Healthcare. Tenet said it will finance the deal from its balance sheet, separate from grant funding the company received from the CARES Act. At Tenet Health, we promise to treat your data with respect and will not share your information with any third party. Dom DiFurio. You must click the activation link in order to complete your subscription. ... On this Web site, the terms "Tenet," "the company," "we," "us" or "our" refer to Tenet Healthcare Corporation and/or its subsidiaries or affiliates. Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas with 110,000 employees. THC is currently sporting a Zacks Rank of #1 (Strong Buy) and an A for Value. Earnings for Tenet Healthcare are expected to decrease by -29.74% in the coming year, from $4.27 to $3.00 per share. Find the latest news headlines from Tenet Healthcare Corporation Common Stock (THC) at Nasdaq.com. News. Tenet said Thursday that it will acquire a majority interest in the centers by buying out SCD’s interests as well as part of physicians’ stake in the centers. 01/12: TENET HEALTHCARE: Presentation PDF 1.40 MB: PU. Dom considers himself among the many transplants that moved to Texas from the crowded coasts who found more than enough reasons to call it home. Related news Tenet Healthcare Joins Elite Club Of Stocks With RS Ratings Over 90. Through an expansive care network that includes United Surgical Partners International, we operate 65 hospitals and approximately 560 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, urgent care and imaging centers … 12/10/2020 Tenet Healthcare shows improving price performance, earning an … Real time Tenet Healthcare (THC) stock price quote, stock graph, news & analysis. Despite the ongoing pandemic, USPI’s surgical centers performed about 94% of the surgeries in third quarter 2020 as it did during the same period a year ago, according to Tenet. If you experience any issues with … You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas with 110,000 employees. The company’s purchase of the additional surgical centers shifts Tenet’s business model to derive more profit from less capital intensive, lower cost-of-care settings. Tenet Announces Roger Davis as President and CEO of Conifer. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Farmers Branch-based Tenet Healthcare will purchase a portfolio of 45 surgery centers from SurgCenter Development for $1.1 billion. Tenet Healthcare Corp., up $7.81 to $42.78. Tenet Health got its start as a major hospital operator in the U.S. and can trace its hospital business roots as far back as 1969. Price to Earnings Ratio vs. the Market. Many of the surgery centers are in markets where Tenet, the nation’s third-largest publicly traded hospital company, already operates. The company’s stock price has collected 3.00% of gains in the last five trading sessions. If you experience any issues with this process, please contact us for further assistance. Rittenmeyer has credited the CARES Act, which offered advance Medicare payments, Social Security payroll tax deferrals and grants, with providing a backstop to cushion the pandemic’s financial blow to its health system. Get the latest headlines delivered to your inbox every weekday. All rights reserved. The hospital operator is buying a number of surgery centres from SurgCenter Development. 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