---
schema_version: "secwatch.filing_event.v1"
accession: "0000070318-26-000003"
form_type: "8-K"
ticker: "THC"
cik: "0000070318"
company_name: "TENET HEALTHCARE CORP"
filed_at: "2026-02-02T23:59:59+00:00"
generated_at: "2026-05-16T05:48:09.591690+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Tenet announces $1.9B CommonSpirit deal; 2025 Adj. EBITDA at upper end of guidance

## Summary
- CommonSpirit to pay Tenet $1.9B over 3 years; Tenet redeems CommonSpirit's 23.8% Conifer equity for $540M.
- Balance sheet: redeemable non-controlling interest and liabilities reduced ~$885M; APIC increased ~$305M.
- Preliminary 2025 Adj. EBITDA at upper end of $4.47B-$4.57B range; strong revenue growth and expense management.
- Conifer continues to serve CommonSpirit through 2026; Tenet to invest in AI and automation for Conifer.
- Full Q4 and FY 2025 results to be reported on February 11, 2026.

## SEC filing metadata
- accession: 0000070318-26-000003
- form_type: 8-K
- ticker: THC
- cik: 0000070318
- company_name: TENET HEALTHCARE CORP
- filed_at: 2026-02-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/70318/000007031826000003/0000070318-26-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/70318/000007031826000003/thc-20260127.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000070318-26-000003
- JSON: https://secwatch.observer/filing/0000070318-26-000003.json
- Plain text: https://secwatch.observer/filing/0000070318-26-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.