Page 4 - Ron Rittenmeyer News Today

Tenet to sell 87 urgent care centers to FastMed for $80 million as it focuses on ambulatory services Tenet’s USPI is in the middle of a transformation in which it plans to focus more of its operations on less capital-intensive, lower cost-of-care settings. There are a “handful” of Tenet-owned urgent care centers not included in the deal with FastMed, according to a Tenet spokeswoman.(Tenet Healthcare) Farmers Branch-based Tenet Healthcare is offloading dozens of urgent care centers as it ...

Dive Brief: Tenet entered into an agreement to sell its urgent care business to FastMed, the for-profit chain said Friday. Tenets urgent care business is branded CareSpot and MedPost. The deal will almost double FastMeds footprint and provide entry into Florida and California, where most of Tenets urgent care centers are located. It will add 87 CareSpot and MedPost centers to FastMeds portfolio of 104 locations across three states. Financial terms of the deal, expected to close in the first q...

Tenet to Sell Urgent Care Platform to FastMed DALLAS--(Business Wire)--Tenet Healthcare (NYSE: THC) and FastMed Urgent Care announced today that they have entered into a definitive agreement under which FastMed will purchase Tenet’s urgent care platform, which is operated under the CareSpot and MedPost brands and managed by Tenet’s United Surgical Partners International (USPI) subsidiary. FastMed is one of the nation’s largest independent urgent care providers with 104 locations in Nort...

AP Despite a strong spike in demand for urgent care during the pandemic, Tenet Healthcare announced Friday its largely getting out of that business. Dallas-based Tenet and FastMed Urgent Care reached a definitive agreement for FastMed to buy 87 of the investor-owned hospital chains urgent-care centers for $80 million, which Tenet said is the vast majority of urgent care center it owns. Tenet shares were trading about 1% lower on the news as of midday Friday. The proposed deal comes as the COV...

Tenet stock price triggers $9.6 million payout for CEO Ron Rittenmeyer Tenet Healthcares announcement last week that it would buy dozens of surgery centers sent the companys share price soaring, triggering a stock transaction that netted its CEO $9.6 million. A trading plan Ron Rittenmeyer entered earlier this year held for the exercise and sale of options he received when he became interim CEO in 2017 if the Dallas-based companys share price surpassed $40. It did so on Dec. 10, the day Tenet a...

A big acquisition juiced the hospital operator's stock.

Share: Expands USPI ambulatory business in line with Tenets stated strategy Addition of up to 45 SCD centers cements Tenets position as preeminent national musculoskeletal services leader across care continuum Investment in lower cost of care, highly efficient, consumer-friendly facilities that improve healthcare affordability and access Enhances Tenets overall business mix and earnings profile Management will host a conference call today, Dec. 10, at 8:30 a.m. Eastern Time, to discuss the tran...

Tenet Healthcare Corp. THC, +2.31% said Thursday it has agreed to acquire a portfolio of up to 45 ambulatory surgery centers from SurgCenter Development for $1.1 billion in cash, plus the assumption of $18 million of debt. The centers will be operated by Tenets United Surgical Partners International unit, which will own up to 60% of each center. The deal is expected to close by year-end. The deal "will enhance our overall business mix and further diversify our earnings profile ...

The transaction is expected to grow for-profit Tenet Healthcare Corp.'s ambulatory surgery portfolio to 310 facilities in 33 states and greatly expand its musculoskeletal surgery offerings.