Tenet Healthcare (THC) has released an update.
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On February 1, 2024, the Company agreed to sell four California-based hospitals and related operations to UCI Health for $975 million in cash and retention of net working capital. The sale is contingent on regulatory approvals, including under the Hart-Scott-Rodino Act, with an expected completion in spring 2024. The agreement includes standard provisions and indemnities, but contains forward-looking statements that are subject to various uncertainties.
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For a comprehensive understanding of the announcement, you can read the full document here.