Capital Finance
Healthcare bankruptcies are currently on track to see 58 cases by the end of this year, a 27% decline from the 79 cases filed in 2023.
Tenet's top priority for capital deployment is the expansion of low-cost, high-quality ambulatory surgical centers, says CEO.
CEO Jim Rechtin said a "challenging external environment" is preventing the company from reaching its full potential.
Hospitals are focusing on rebuilding cash reserves by cutting costs and boosting revenue through service line management.
Officials said a new 14-story tower and five-story pavilion will deliver better care and help the facility adapt to change.
Due to the strong performance, the company is forecasting 2024 EPS guidance of $21.60 to $22.80 per share, both improvements.
Operating revenue was $43.2 billion in the quarter, a decrease of $0.2 billion compared to the prior year quarter.
Two of the 11 transactions were mega mergers, yet both were strategic transactions and neither were focused on scale.
The parties have not yet withdrawn material change notice filings with the Massachusetts Health Policy Commission.