Tenet (THC) Divests Six Hospitals, Sustains Divestiture Spree [Yahoo! Finance]
Tenet Healthcare Corporation (THC)
Last tenet healthcare corporation earnings: 2/24 04:21 pm
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Source: Yahoo! Finance
Out of the total, four facilities and their related operations are located in Orange County and Los Angeles County, and have been divested to the academic health system of Orange County, UCI Health. An agreement for the sale of the facilities, named Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical and Placentia-Linda Hospital, was inked at the very beginning of February 2024 after receiving a nod from the University of California Board of Regents. The transaction was likely to conclude in the spring of 2024, subject to customary regulatory approvals, clearances and closing conditions, and the divestiture was completed within the targeted period. Tenet Healthcare is expected to receive proceeds of roughly $975 million, or approximately $800 million after-tax, out of the abovementioned transaction. It will support THC in paying off its debts. The company grappled with a significant long-term debt burden of $14.9 billion as of Dec 31, 2023, an
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THC
Earnings
- 4/30/24 - Beat
THC
Sec Filings
- 5/14/24 - Form PX14A6G
- 5/10/24 - Form 4
- 5/9/24 - Form 4
- THC's page on the SEC website