Tenet Healthcare

Tenet Healthcare is a company that has created a health system and services platform that is centered around hospitals, physicians, and USPI and Conifer Health Solutions. The company was founded by John Bedrosian, Leonard Cohen, and Richard Elmer in 1967 in Dallas, Texas, United States.

The company looks to invest in and own healthcare delivery systems within the United States. Tenet Healthcare operates sixty-five hospitals and over five-hundred other healthcare facilities. They operate surgical hospitals, urgent cares, imaging centers, clinics, and more.

Operating Conifer Health Solutions allows Tenet Healthcare to provide care to the communities they are located in. The work directly with hospitals, health systems, physicians, practices, employers, and several other clients. Tenet's health systems are familiar with acute care, specialty cases, outpatient management, and patient care encounters.

COVID-19

Tenet Healthcare has crafted responses against COVID-19. They are working with state and country-level departments of public health and care centers. The company has created infection control policies, procedures, and systems to help keep their communities safe.

Timeline

February 9, 2021

Tenet Healthcare posts $414M profit in 4th quarter.

Tenet Healthcare beat Wall Street expectations Tuesday as it posted a profit of $414 million, or $3.86 per share, in the final quarter of a year of historic challenges.

That fourth-quarter balance sheet included the benefit of $339 million after-tax grant income, including funding from the $2.3 trillion spending bill passed by Congress in December that included $900 billion in stimulus relief.

For the year, the health system posted a profit of $399 million, or $3.75 a share, up from a loss of $226 million, or $2.19 a share, for the year in 2019.

Tenet also announced Tuesday it plans to retire $478 million of 7% senior unsecured notes due in 2025 using available cash on hand.

Acquisitions

Patents

Further Resources

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Chutes & Ladders--Tenet shares CEO succession plan; Hartford HealthCare names Cleveland Clinic exec as CFO

Dave Muoio

August 13, 2021

FierceHealthcare

Welcome to this week's Chutes & Ladders, our roundup of hirings, firings and retirings throughout the industry. Please submit the good news--or the bad--from your shop, and we will feature it here at the end of each week.

Tenet COO and President Saum Sutaria to take over for Ron Rittenmeyer as CEO in September

Robert King

August 9, 2021

FierceHealthcare

Tenet Healthcare's president and COO Saum Sutaria will become the hospital chain's new CEO starting in September, taking over for Ron Rittenmeyer who has led the system since 2017.

Tenet Healthcare sells off 5 Florida hospitals to Steward Health Care System for $1.1B

Dave Muoio

June 17, 2021

FierceHealthcare

The deal, set to close this fall, would more than double Steward's presence in Florida. Tenet, meanwhile, would continue to control five hospitals elsewhere in the state.

CEO pay remains stratospheric, even at companies battered by pandemic

David Gelles | NYT

April 25, 2021

@bsindia

While millions of people struggled to make ends meet, many of the companies hit hardest in 2020 showered their executives with riches

C.E.O. Pay Remains Stratospheric, Even at Companies Battered by Pandemic

David Gelles

April 24, 2021

www.nytimes.com

While millions of people struggled to make ends meet, many of the companies hit hardest in 2020 showered their executives with riches.