secwatch.observer — SEC 8-K summary
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Issuer:     TENET HEALTHCARE CORP (THC)
CIK:        0000070318
Form:       8-K
Filed at:   2023-11-17T23:59:59+00:00
Accession:  0000070318-23-000058
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tenet sells three SC hospitals to Novant for $2.4B cash; expects ~$1.6B pre-tax gain
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- Sale includes Coastal Carolina, East Cooper Medical, Hilton Head hospitals and related operations.
- LTM revenue of $552M, pre-tax income $126M, Adjusted EBITDA $150M (12 mo. ended Sep 30, 2023).
- After-tax proceeds ~$1.75B; proceeds primarily for debt retirement.
- Conifer Health enters new 15-year revenue cycle management contract for the sold hospitals.
- Transaction expected to close Q1 2024, subject to HSR and regulatory approvals.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70318/000007031823000058/0000070318-23-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70318/000007031823000058/thc-20231117.htm
  HTML page:      https://secwatch.observer/filing/0000070318-23-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer