secwatch.observer — SEC 8-K summary
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Issuer:     TENET HEALTHCARE CORP (THC)
CIK:        0000070318
Form:       8-K
Filed at:   2024-02-29T23:59:59+00:00
Accession:  0000070318-24-000020
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tenet sells two California hospitals for $550M cash; Conifer to partner with Adventist Health
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- Sale of Sierra Vista Regional Medical Center and Twin Cities Community Hospital for $550M (after-tax ~$450M).
- Divested facilities generated 2023 revenue of $337M, pre-tax income $25M, Adjusted EBITDA $38M.
- Tenet estimates a pre-tax book gain of ~$275M on the transaction.
- Conifer Health Solutions will provide revenue cycle services for Adventist Health, covering over $3.5B in net revenue.
- Transaction expected to close spring 2024, subject to regulatory approvals including HSR.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70318/000007031824000020/0000070318-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70318/000007031824000020/thc-20240229.htm
  HTML page:      https://secwatch.observer/filing/0000070318-24-000020

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