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Tenet Healthcare (THC) has issued an update.
On February 29, 2024, a company announced the sale of two California hospitals, Sierra Vista Regional Medical Center and Twin Cities Community Hospital, along with related operations, to Adventist Health for $550 million in cash. In the previous year, these facilities brought in revenues of $337 million and adjusted EBITDA of $38 million. The deal, anticipated to close in spring 2024, is expected to result in a substantial pre-tax book gain for the company and includes a service contract with Conifer Health Solutions. The transaction is pending regulatory approvals and is not contingent on financing, but it is subject to standard closing conditions and indemnities.
Learn more about THC stock on TipRanks’ Stock Analysis page.
