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Tenet Healthcare Corp (THC.N)

THC.N on New York Stock Exchange

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21 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Tenet Highlights Strategic Growth And Cost Reduction Initiatives At J.P. Morgan Healthcare Conference
Tuesday, 9 Jan 2018 

Jan 8 (Reuters) - Tenet Healthcare Corp ::TENET HEALTHCARE - ‍EXECUTION OF DIVESTITURE PROGRAM OF NON-CORE MARKETS & ASSETS, WHICH IS ON TRACK & EXPECTED TO YIELD IN EXCESS OF $1 BILLION OF PROCEEDS​.TENET HIGHLIGHTS STRATEGIC GROWTH AND COST REDUCTION INITIATIVES AT J.P. MORGAN HEALTHCARE CONFERENCE.TENET HEALTHCARE CORP - ‍ANTICIPATES NEW TAX LAW WILL POSITIVELY AFFECT EPS OVER NEXT TWO TO THREE YEARS DUE TO LOWER TAX RATE​.TENET HEALTHCARE CORP - ‍PROCESS UNDERWAY TO SELL CONIFER​.  Full Article

Tenet Healthcare Issues Information On Financial Implications Of Changes To Federal Tax Law​
Saturday, 6 Jan 2018 

Jan 5 (Reuters) - Tenet Healthcare Corp ::‍ISSUES INFORMATION ON FINANCIAL IMPLICATIONS OF CHANGES TO FEDERAL TAX LAW​‍.DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS IS NOW EXPECTED TO BE $0.05 TO $0.19 IN 2018​.‍COMPANY IS REITERATING ITS 2018 OUTLOOK FOR REVENUE​.‍ADJUSTED DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS IS NOW EXPECTED TO BE $0.58 TO $0.97​ IN 2018.‍ALSO REITERATING ITS 2018 OUTLOOK FOR ADJUSTED EBITDA AND ADJUSTED FREE CASH FLOW​.‍UPDATED ITS PREVIOUS FINANCIAL 2018 OUTLOOK TO REFLECT CHANGES TO FEDERAL TAX LAWS ENACTED AS PART OF TAX CUTS AND JOBS ACT OF 2017​.‍ANTICIPATE APPROXIMATELY 80 PERCENT OF CAPITAL EXPENDITURES IN 2018 SHOULD QUALIFY FOR IMMEDIATE EXPENSING​.‍NO MATERIAL CHANGE IN CO'S ABILITY TO UTILIZE ITS FEDERAL INCOME TAX NET OPERATING LOSS CARRYFORWARDS.PROJECTS ITS FEDERAL INCOME TAX NET OPERATING LOSS CARRYFORWARDS TO BE ABOUT $1.6 BILLION AS OF DECEMBER 31, 2017​.  Full Article

Tenet, St. Luke's Hospital Announce Agreement Regarding Sale Of Des Peres Hospital
Friday, 5 Jan 2018 

Jan 5 (Reuters) - Tenet Healthcare Corp ::TENET AND ST. LUKE'S HOSPITAL ANNOUNCE DEFINITIVE AGREEMENT REGARDING THE SALE OF DES PERES HOSPITAL.TENET HEALTHCARE SAYS ENTERED AGREEMENT FOR ST. LUKE'S TO PURCHASE DES PERES HOSPITAL, TENET-OWNED PHYSICIAN PRACTICES, AMONG OTHERS.  Full Article

Tenet To Explore Potential Sale Of Conifer, Provides Updates On Cost Reduction And 2018 Outlook
Tuesday, 19 Dec 2017 

Dec 19 (Reuters) - Tenet Healthcare Corp ::TENET ANNOUNCES PROCESS TO EXPLORE A POTENTIAL SALE OF CONIFER, PROVIDES UPDATES ON COST REDUCTION AND BOARD REFRESHMENT INITIATIVES, AND ISSUES OUTLOOK FOR 2018.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $1.07 TO $1.36 FROM CONTINUING OPERATIONS.SEES FY 2018 EARNINGS PER SHARE $0.63 TO $0.68 FROM CONTINUING OPERATIONS.TENET HEALTHCARE - ‍TARGETED COST REDUCTION PROGRAM EXPANDED AND IS NOW EXPECTED TO YIELD $250 MILLION OF ANNUALIZED RUN-RATE SAVINGS BY END OF 2018​.- ‍BOARD HAS REAFFIRMED CONTINUATION OF PREVIOUSLY ANNOUNCED SHAREHOLDERS RIGHTS PLAN UNTIL 2018 ANNUAL MEETING​.TENET HEALTHCARE - ‍OUTLOOK FOR 2018 INCLUDES NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO TENET COMMON SHAREHOLDERS OF $65 MILLION TO $70 MILLION​.- IS INITIATING A PROCESS TO EXPLORE A POTENTIAL SALE OF CONIFER HEALTH SOLUTIONS, ITS HEALTHCARE BUSINESS SERVICES SUBSIDIARY.- ‍INCREASED SIZE OF ITS PREVIOUSLY ANNOUNCED COST REDUCTION INITIATIVES BY $100 MILLION​.- EXPECTS TO REALIZE APPROXIMATELY $125 MILLION OF SAVINGS DURING CALENDAR YEAR 2018, UP FROM COMPANY'S PREVIOUS GOAL OF $75 MILLION.- ‍EXPECTS THAT A DECISION REGARDING A POTENTIAL SALE OF CONIFER SHOULD BE MADE DURING FIRST HALF OF 2018​.- ‍BOARD WILL CONTINUE ITS SEARCH FOR ADDITIONAL INDEPENDENT DIRECTORS​.SEES ‍ 2018 NET OPERATING REVENUES OF $17.8 BILLION TO $18.2 BILLION, CAPITAL EXPENDITURES OF $625 MILLION TO $675 MILLION​.  Full Article

Tenet healthcare Board approved raise in salary of CEO Ronald Rittenmeyer
Friday, 10 Nov 2017 

Nov 9 (Reuters) - Tenet Healthcare Corp :Tenet Healthcare- Human Resources Committee of Board approved raise in salary of Ronald Rittenmeyer in recognition of his assumption of co's CEO role​.Tenet Healthcare Corp - Ronald Rittenmeyer's annualized base salary is now $2.9 million, with change retroactive to August 31, 2017 -SEC filing​.  Full Article

Tenet Q3 adjusted loss per share $0.17 from continuing operations
Tuesday, 7 Nov 2017 

Nov 6 (Reuters) - Tenet Healthcare Corp ::Tenet reports results for the third quarter ended September 30, 2017.Q3 adjusted loss per share $0.17 from continuing operations.Q3 loss per share $3.63 from continuing operations.Q3 earnings per share view $-0.38 -- Thomson Reuters I/B/E/S.Sees FY 2017 adjusted earnings per share $0.59 to $0.74 from continuing operations.Sees Q4 2017 adjusted earnings per share $1.20 to $1.35 from continuing operations.Tenet Healthcare Corp - qtrly net operating revenues $ 4,586 million versus $4,849 million last year.Tenet Healthcare Corp - ‍Tenet's same-hospital exchange admissions were 4,856 in Q3 of 2017, down 6.8 percent from Q3 of 2016​.Tenet Healthcare Corp - ‍same-hospital exchange outpatient visits were 49,089 in Q3 of 2017, up 4.3 percent from Q3 of 2016​.Tenet Healthcare sees ‍Q4 revenue of $4.8 billion to $5.0 billion, excluding about $10 million of revenue from co's health plans​.Tenet - Q3 ‍net loss from continuing operations attributable to shareholders included $329 million pre-tax impairment and restructuring charge​.Tenet - Q3 ‍net loss from continuing operations attributable to shareholders included $104 million pre-tax gain on sale of former Houston​ assets.Tenet - Q3 ‍net loss from continuing operations attributable to shareholders also included $138 million pre-tax loss from early extinguishment of debt​ assets.Tenet - special ‍items collectively lowered lowered diluted earnings per share by approximately $3.46​ in quarter.  Full Article

Tenet Healthcare releases preliminary results for Q3
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Tenet Healthcare Corp :Tenet releases preliminary results for the third quarter of 2017, announces $150 million cost reduction initiative and appoints new independent director.Sees Q3 2017 loss per share $3.63 from continuing operations.Tenet Healthcare Corp - ‍James Bierman to join board as part of ongoing board refreshment process​.Tenet Healthcare Corp - ‍Anticipates reporting Q3 net operating revenues after provision for doubtful accounts of approximately $4.586 billion​.Tenet Healthcare Corp sees ‍Q3 adjusted EBITDA to be approximately $507 million.Q3 earnings per share view $-0.39, revenue view $4.70 billion -- Thomson Reuters I/B/E/S.Tenet Healthcare - ‍Expects to report Q3 adjusted net loss from continuing operations attributable to shareholders of about $17 million, or $0.17/share​.Tenet -Adjusted EBITDA in Q3 estimated to be negatively impacted by about $30 million of lower revenues,higher expenses associated with hurricanes.Tenet Healthcare Corp - ‍Patient revenues in hospital operations and other segment declined 2.3 percent on a same-hospital basis in Q3.Tenet Healthcare Corp - ‍ Anticipates achieving full annualized run-rate savings from implementation of cost reduction initiative by end of 2018​.Tenet Healthcare Corp - ‍Company's same-hospital revenue per adjusted admission was lowered by approximately 150 basis points in Q3​.  Full Article

Tenet Healthcare names Ronald Rittenmeyer interim CEO
Tuesday, 24 Oct 2017 

Oct 23 (Reuters) - Tenet Healthcare Corp :Tenet Healthcare Corp - ‍board appointed Ronald Rittenmeyer, executive chairman, to serve as CEO while co continues search for permanent ceo.  Full Article

TENET ANNOUNCES AGREEMENT WITH LOYOLA MEDICINE REGARDING SALE OF MACNEAL HOSPITAL
Wednesday, 11 Oct 2017 

Oct 11 (Reuters) - Tenet Healthcare Corp :TENET ANNOUNCES DEFINITIVE AGREEMENT WITH LOYOLA MEDICINE REGARDING THE SALE OF MACNEAL HOSPITAL AND RELATED OPERATIONS.‍MACNEAL HOSPITAL AND RELATED OPERATIONS WILL BE ADDED TO LOYOLA MEDICINE REGIONAL HEALTH SYSTEM.RELATED OPERATIONS INCLUDE LOCAL TENET-OWNED PHYSICIAN PRACTICES, CHICAGO HEALTH SYSTEM AND ASSOCIATED CHS ACCOUNTABLE CARE ORGANIZATION​.‍LOYOLA MEDICINE , AN AFFILIATE OF TRINITY HEALTH, WILL PURCHASE MACNEAL HOSPITAL AND ITS AFFILIATED​ OPERATIONS.  Full Article

Tenet calls for redemption of 8% senior notes due 2020
Saturday, 12 Aug 2017 

Aug 11 (Reuters) - Tenet Healthcare Corp :Tenet calls for redemption of 8% senior notes due 2020.Tenet Healthcare Corp - ‍redemption of entire $250 million aggregate principal amount of its outstanding 8% senior notes due 2020​.Tenet Healthcare Corp says notes will be redeemed on september 11, 2017, at a redemption price equal to 101.333% of principal amount of notes.  Full Article

BRIEF-Tenet Issues Statement Regarding Glenview Capital's Submission To Amend Bylaws

* TENET HEALTHCARE - ‍RECEIVED PROPOSAL BY GLENVIEW CAPITAL TO AMEND CO'S BYLAWS TO INCLUDE PROVISION TO ALLOW SHAREHOLDERS TO ACT BY WRITTEN CONSENT​