Page 8 - Ron Rittenmeyer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A big acquisition juiced the hospital operator's stock.

Share: Expands USPI ambulatory business in line with Tenet's stated strategy Addition of up to 45 SCD centers cements Tenet's 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 Tenet's 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 transaction Tenet Healthcare Corporation (NYSE:THC) today announced that it will acquire a portfolio ...

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 Tenet's 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 by accelerating our shift toward lower cost of care, consumer-friendly, faster-growing assets for T...

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.