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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 focuses on expanding its ambulatory surgical services. In a deal expected to close in the first quar...

Dive Brief: Tenet entered into an agreement to sell its urgent care business to FastMed, the for-profit chain said Friday. Tenet's urgent care business is branded CareSpot and MedPost. The deal will almost double FastMed's footprint and provide entry into Florida and California, where most of Tenet's urgent care centers are located. It will add 87 CareSpot and MedPost centers to FastMed's portfolio of 104 locations across three states. Financial terms of the deal, expected to close in the first quarter, were not disclosed. Dive Insight: The move further solidifies Tenet's strategy to become...

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 North Carolina, Arizona and Texas. The transaction will add 87 CareSpot and MedPost centers, increasing ...

AP Despite a strong spike in demand for urgent care during the pandemic, Tenet Healthcare announced Friday it's 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 chain's 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 COVID-19 pandemic has shifted a significant contingent of patient care into urgent-care facilities th...

Tenet stock price triggers $9.6 million payout for CEO Ron Rittenmeyer Tenet Healthcare's announcement last week that it would buy dozens of surgery centers sent the company's 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 company's share price surpassed $40. It did so on Dec. 10, the day Tenet announced plans to acquire up to 45 ambulatory surgery centers from SurgCenter Development for an ...