secwatch.observer — SEC 8-K summary
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Issuer:     TENET HEALTHCARE CORP (THC)
CIK:        0000070318
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0000070318-24-000044
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 to sell 70% stake in five Alabama hospitals to Orlando Health for $910M cash
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- Sale price $910M cash; after-tax proceeds ~$790M; pre-tax book gain ~$375M.
- Five hospitals: Brookwood, Princeton, Walker, Shelby, Citizens Baptist Medical Centers.
- 12-month pre-tax income ~$12M; Adj. EBITDA less NCI ~$60M on Tenet's 70% interest.
- Conifer Health Solutions gets new 10-year revenue cycle management contract for the facilities.
- Expected fall 2024 close; FY24 Adjusted EBITDA outlook reaffirmed per July 24 guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/70318/000007031824000044/0000070318-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/70318/000007031824000044/thc-20240805.htm
  HTML page:      https://secwatch.observer/filing/0000070318-24-000044

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