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Profile:  

 
Tenet Healthcare Corp.
13737 Noel Road
Dallas, TX 75240
United States - Map
Phone: 469-893-2200
Fax: 469-893-8600
Web Site: http://www.tenethealth.com

DETAILS  
Index Membership: S&P 500
S&P 1500 Super Comp
Sector: Healthcare
Industry: Hospitals
Full Time Employees: 44,620


BUSINESS SUMMARY  
Tenet Healthcare Corporation, an investor-owned health care services company, operates general hospitals and related health care facilities. The company's general hospitals offer acute care services, radiology services, and respiratory therapy services, as well as operate operating and recovery rooms, and clinical laboratories and pharmacies. It also provides intensive care, critical care and/or coronary care units, and physical therapy; orthopedic, oncology, and outpatient services; tertiary care services, such as open-heart surgery, neonatal intensive care, and neuroscience; quaternary care in areas, including heart, lung, liver, and kidney transplants; gamma-knife brain surgery; cyberknife surgery for tumors and lesions in the brain, lung, neck, and spine; and bone marrow transplants. As of December 31, 2008, the company operated 53 general hospitals; and a critical access hospital with a combined total of 14,352 licensed beds serving urban and rural communities. It also operated various related health care facilities, including a rehabilitation hospital; a long-term acute care hospital; a skilled nursing facility; various medical office buildings; and physician practices, captive insurance companies, and other ancillary health care businesses, such as outpatient surgery centers, diagnostic imaging centers, and occupational and rural health care clinics, as well as owned interests in two health maintenance organizations. The company was founded in 1967 and is headquartered in Dallas, Texas with additional offices in Santa Ana, California; Coral Springs, Florida; and Philadelphia, Pennsylvania.

Tuesday, April 21, 2009, 11:23am CDT  |  Modified: Tuesday, April 21, 2009, 3:17pm
Tenet raises 2009 earnings outlook by $25M
Memphis Business Journal

With strong first quarter sales and a broad operating margin, Tenet Healthcare Corp. raised its 2009 earnings outlook by $25 million, according to an SEC filing.

Tenet (NYSE: THC) adjusted its earnings projections from $735 million-$800 million to $760 million-$825 million for the year. After taxes, interest, depreciation and amortization, net income to shareholders is expected in a range between a loss of $55 million to a gain of $75 million.


The company reported $178 million in first quarter net income, which beat a $31 million loss it recorded in the same quarter last year.

"Excellent cost control, including a sustained decline in malpractice expense, contributed to a very strong first quarter and the highest operating margin we've reported in six years," Tenet CEO Trevor Fetter said in a statement.

Tenet shares rose 44 percent Tuesday, to close at $2.05 per share over Monday's close of $1.42.

Tenet is the parent company of both Saint Francis hospitals in Shelby County. Saint Francis-Memphis is a 519-bed full service hospital in East Memphis. Saint Francis-Bartlett is a 100-bed full service facility.

Tuesday, April 21, 2009, 10:58am PDT
Tenet expects Q1 profit
Los Angeles Business from bizjournals - from the Dallas Business Journal


Hospital operator Tenet Healthcare Corp. said Tuesday it anticipates a profit for the first quarter due to success in controlling costs, a drop in malpractice expenses and a higher operating margin.

Dallas-based Tenet (NYSE: THC) released its preliminary results for the first quarter, which shows the company securing a first-quarter profit of $178 million, or 37 cents per share, up significantly from a loss of $31 million in the first quarter of last year.


Tenet's revenue for the quarter is expected to hit $2.3 billion, up from $2.2 billion a year earlier.

Going forward, Tenet is projecting 2009 could end in a loss as deep as $55 million or a profit as high as $75 million.

At the end of March, Tenet had $652 million in cash and cash equivalents — which is $145 million higher than the cash reported in December of last year. This cash increase is attributed to the $247 million Tenet received in the sale of USC University Hospital and USC Kenneth Norris Jr. Cancer Hospital, Tenet said.

THC - Volume Alert.......

•Tenet Surprise Sends Hospital Stocks Higher...
Most definitely a good long term hold.
Speculation (Long Recommendation)
Beaten down cheap valuations and good technicals make this health care provider a possible turnaround candidate.
There appears to have been some accumulation going on at the price level of $1.
Tenet has a P/S of 0.07, and a P/Cash_Flow of 0.72, which are historically very low for THC and compare favorably to corresponding ratios for the industry. It has a heavy total debt/asset ratio of 58% compared to that of the industry of 25%. So it is only recommended for your most speculative funds.

52wk Range: 0.78 - 6.88
Volume: 33,356,258
Avg Vol (3m): 4,807,740

Technicals
Most Actives
Gap Up
Percentage Gainer

Last Price Quote is:
57.81%above 13-day MA
69.62%above 50-day MA
RS Rating: 94 

Fundamentals
Key Data:
Market Cap (M): $748.69 
P/E Ratio: 12.20 
PEG Ratio: N/A 
Next Earnings: 05/05/2009
Last Analyst Rating: Hold

Below are the 6 month...9 month...and 5 year charts.

updated chart look...

Friday, May 29, 2009, 9:18am CDT  |  Modified: Friday, May 29, 2009, 9:20am
Tenet, MED3000 create joint ventureDallas Business Journal

Hospital operator Tenet Healthcare Corp. has created MED3000 Practice Resources LLC, a joint venture between a Tenet subsidiary and MED3000 Inc., so the two organizations can provide physicians in 12 states with technology such as electronic health records, practice management systems and revenue management technology. A Tenet subsidiary owns a 20 percent minority interest.

MED3000 Inc. focuses on providing physicians with health care management technology.

"As Tenet continues to improve the value proposition our hospitals provide to the growing number of affiliated and employed physicians joining our active medical staffs, this new joint venture will offer an expanded array of services that are increasingly needed by physicians and their practice managers," said Stephen L. Newman, M.D., Tenet's chief operating officer. "The services of MED3OOO Practice Resources will allow physicians to manage their business operations more efficiently, thereby improving their ability to focus on providing high-quality patient care."



52wk Range: 0.78 - 6.70
Volume: 14,892,035
Avg Vol (3m): 8,484,490
Market Cap: 1.74B
P/E (ttm): 7.44
EPS (ttm): 0.49
Div & Yield: N/A (N/A)

Technicals
Percentage Gainer

Last Price Quote is:
26.26%above 13-day MA
69.30%above 50-day MA
RS Rating: 97 

Fundamentals
Key Data:
Market Cap (M): $1,545.38 
P/E Ratio: 5.62 
PEG Ratio: N/A 
Next Earnings: 08/04/2009
Last Analyst Rating: Overweight

ready for the next leg
updated chart scene...

updated chart look...

updated chart look...

FRISCO, Texas, Sep 27, 2010 (BUSINESS WIRE) -- Conifer Health Solutions, a leader in business process solutions for healthcare providers, today announced it has acquired MediHealth Outsourcing, LLC. MediHealth is a Health Information Management (HIM) Operations and Clinical Revenue Cycle (CRC) consulting and outsourcing company headquartered in Tampa, Fla.

MediHealth specializes in providing HIM business process and consulting solutions to hospitals and healthcare organizations. Its services range from outsourcing a hospital's entire HIM department to interim/temporary staffing services for coding and all clinical revenue cycle staff. They also provide operational consulting services for Electronic Health Records (EHR) and Meaningful Use preparedness, as well as RAC audit defense. Conifer will now offer all of these HIM services as stand-alone solutions for hospitals and healthcare systems and as part of its comprehensive revenue cycle management solution.

"With this acquisition, we have significantly strengthened Conifer's ability to assist hospitals and healthcare providers with healthcare reform including the upcoming ICD-10 implementation and execution," said Stephen M. Mooney, president of Revenue Cycle Solutions at Conifer Health Solutions. "Conifer's comprehensive revenue cycle management services will now include operational responsibility for all of the clinical and financial functions pertaining to the capture, management and collection of net patient revenue for hospitals and health systems. We also believe expanding our HIM and clinical revenue cycle offerings will make us more competitive in the marketplace and is an important part of our long-term growth strategy."

Conifer will retain MediHealth President Paula Lawlor, RHIA, a 30-year HIM industry veteran, to lead its consolidated HIM organization. It will also add MediHealth's 12 employees to its existing staff to continue providing services to client hospitals and healthcare systems. For more information, please visit www.him.coniferhealth.com .

About Conifer

Conifer Health Solutions provides Revenue Cycle and Patient Communications services to more than 125 hospitals and health systems nationwide. Conifer utilizes proprietary workflows and technology to offer comprehensive Revenue Cycle Solutions ranging from patient pre-registration through the processing of governmental, managed care and self-pay claims. The company also provides best-in-class Patient Communications services that include physician referrals, patient education, marketing services and pre-admission clinical appropriateness reviews.

Born from healthcare, Conifer Health Solutions is headquartered in Dallas, Texas, and employs more than 2,400 people. For more information, call 1-877-CONIFER or visit the company's Web site at www.coniferhealth.com .

Conifer Health Solutions, Inc. is a wholly owned subsidiary of Tenet Healthcare Corporation (THC). Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties, certain of which are discussed in Tenet's filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended Dec. 31, 2009, quarterly reports on Form 10-Q, and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.

SOURCE: Conifer Health Solutions


Conifer Health Solutions
John Hoffmann, 214-676-5024
[email protected]

DALLAS, Sep 27, 2010 (BUSINESS WIRE) -- Tenet Healthcare Corporation (THC) and PeopleAnswers today announced a new agreement that expands Tenet's use of PeopleAnswers' talent assessment software to all corporate, administrative and leadership positions across all 49 hospitals and 57 surgery and diagnostic imaging centers that it owns or operates in the United States.

Tenet has used PeopleAnswers since 2008 to improve its nursing hiring decisions and retention. After testing a variety of assessment solutions over several years, Tenet selected PeopleAnswers believing its unique approach would drive a significant improvement compared to the previous solutions' results. PeopleAnswers' innovative approach of creating custom behaviorally based Performance Profiles(TM) aligned with medical outcomes clearly differentiated the company's approach. PeopleAnswers' ability to exceed every stated goal since deployment led to Tenet's recent company-wide expansion to all facilities and positions.

"Tenet facilities that have used PeopleAnswers over the last 18 months have improved quality of hire and reduced early nursing turnover by 47%. Across our system, every percentage point of turnover reduction equates to $12 million in hard cost savings," said Joe Gage, vice president of Human Resources for Tenet. "Since partnering with the PeopleAnswers team to improve our nursing retention and patient care, I realize we're truly pioneering a new avenue to strengthen relationships with our patients, doctors and nurses."

Tenet uses PeopleAnswers' custom, behaviorally based Performance Profiles(TM) to assess and match nursing candidates with the hospital units, such as emergency, medical/surgery or critical care, which best corresponds with each candidate's natural strengths and core behaviors. In a recent 17-month case study that included 1,021 nurses in the Tenet network, nurses who were "recommended" for hire by PeopleAnswers posted a turnover reduction of 47% compared to nurses hired without PeopleAnswers over the same period.

CEO and President of PeopleAnswers, Gabriel Goncalves, has seen his original vision of an improved selection process morph into a force that redefines hiring practices within the health care field. "When I step back from the technology, I see we're helping people who count on Tenet for their health care. Patients and physicians need assurance that their nurses and other facility staff members have the right skills and behaviors to provide the best patient care possible," he said.

Gage and Goncalves will co-present Tenet Healthcare Uses New Assessments to Reduce Nursing Turnover at Human Resource Executive's HR Technology Conference & Exposition on Thursday, September 30 from 1:45-3 p.m. CDT in Chicago, Ill. To learn more about the conference, visit www.HRTechnologyConference.com .

Many large companies like Tenet use PeopleAnswers' industry-leading, web-based assessment software platform. As part of its multi-faceted product, the company builds custom Performance Profiles(TM) based on incumbent populations that allow clients to select new talent according to proven performance and behavioral measures.

About Tenet Healthcare Corporation

Tenet Healthcare Corporation is a health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers and diagnostic imaging centers. Tenet's hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com .

About PeopleAnswers

PeopleAnswers provides next-generation, web-based hiring assessments to help maximize the quality of every hire, reduce turnover and streamline the selection process. Clients are from multiple industries including financial services, healthcare, hospitality, property management and retail. Some clients include HSBC, ADP, Medtronic, Express Scripts, Panera Bread, Motel 6, Macy's, Saks Fifth Avenue, RadioShack, Polo Ralph Lauren, and Michaels. For more information, please visit www.peopleanswers.com .

(C) 2010 PeopleAnswers, Inc. The information contained herein is subject to change without notice. The only warranties for PeopleAnswers products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. PeopleAnswers shall not be liable for technical or editorial errors or omissions contained herein.

SOURCE: PeopleAnswers


PeopleAnswers
Glen Sheppard, 214-445-2168
[email protected]
or
for PeopleAnswers
Carol Barreyre, 214-629-5157
[email protected]

DALLAS, Sep 27, 2010 (BUSINESS WIRE) -- Tenet Healthcare Corporation (THC) today announced that Lake Pointe Health Network has appointed Eric Evans as its chief executive officer, effective Sept. 20. The network is located in Rowlett, Texas, and includes Lake Pointe Medical Center, a 112-bed acute care hospital, seven outpatient centers and four physician clinics.

"Eric is an outstanding leader who is truly dedicated to ensuring our patients receive high-quality care," said Robert L. Smith, senior vice president of operations for Tenet's central region. "His solid reputation for excellence and passion for clinical care will make him an invaluable asset to the hospital and its surrounding community."

Evans most recently served as vice president and chief of staff to Tenet President and CEO Trevor Fetter, where he assisted in the development of corporate strategy and championed key quality and growth initiatives. Prior to serving as chief of staff, Evans led a mix of clinical and ancillary departments as Lake Pointe's chief operating officer. In addition, he led the hospital's cost control efforts, new initiative implementation and expansion and master planning efforts.

Evans also served as associate administrator and director of business development at Lake Pointe, where he was responsible for physician relations and recruiting, marketing, strategic planning and growth initiatives. He joined Tenet in 2004 as an associate in its leadership development program.

Prior to joining Tenet, Evans worked as an industrial engineer at Saturn Corporation.

He received his bachelor's degree from Purdue University and his master's degree in business administration from Harvard Business School.

Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers. Tenet's hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com .

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2008, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.

Editors Note: For an electronic photo of Eric Evans, please call 469-893-2640.

SOURCE: Tenet Healthcare Corporation


Tenet Healthcare Corporation
Media:
Rick Black, 469-893-2647
[email protected]
or
Investors:
Thomas Rice, 469-893-2522
[email protected]

Tenet shares soar 50% after $7B CHS bid


Shares of Tenet Healthcare, the Dallas-based parent Saint Louis University Hospital and Des Peres Hospital, jumped more than 50 percent in pre-market trading on Friday, after Community Health Systems said it offered to buy company for $7.3 billion in cash and stock.

Tenet shares (NYSE: THC) jumped 52 percent, or $2.21, to $6.50‎ a share before the markets opened.

Franklin, Tenn.-based CHS said it made the offer in a letter on Nov. 12 and was rejected by Tenet on Monday. CHS sent another letter to Tenet's board Thursday, offering $6 per share — $5 per share in cash and $1 per share in CHS common stock. The offer represents a premium of more than 40 percent over Tenet's closing stock price Thursday, CHS said.

The deal would create the nation's largest hospital chain.

Tenet Healthcare spikes buyout bid...

On Friday December 10, 2010, 9:06 am
Community Health Bids 40 Percent Premium

CHS offered to buy the hospital chain for $6 a share in cash and stock. That's a 40 percent premium, but THC is up even more! It now trades at $6.50 in the pre, so some bulls are clearly betting that a higher price is in the works.

Day's Range: N/A - N/A
52wk Range: 3.95 - 6.46
Volume: 55,464,291
Avg Vol (3m): 7,852,370
Market Cap: 3.13B
P/E (ttm): 2.20
EPS (ttm): 1.95
Div & Yield: N/A (N/A)

Tenet in focus
at MarketWatch(Fri 9:19AM EST)

Community Health bids $7.3 billion for Tenet
Cash-and-stock deal offers 40% premium, but Tenet has balked.......


In corporate news, Community Health Systems Inc. (CYH 31.71, +0.07, +0.22%)  said Tenet Healthcare Corp. (THC 6.43, +2.14, +49.89%)  has rejected a takeover offer valued at $6 a share in cash and stock, or a roughly 40% premium to Thursday's closing price.

Community Health said the equity value of the offer was $3.3 billion and that the total value would be $7.3 billion including the assumption of $4 billion of debt. See full story on Community Health's offer.

The bid appears to have become hostile very quickly, said Wells Fargo Securities analysts. They added, however, that Tenet shareholders will find it difficult to walk away from the offer, and with a bidding war unlikely, it is probably in Tenet's best interest to accept this bid or a slightly improved one.

Tenet officials said they were not available for comment, but the company apparently thinks the offer is too low.

In a letter to Tenet's board of directors, Community Health said: "We are convinced this transaction would be very attractive to Tenet shareholders — and we do not understand how you could state in your letter of Dec. 6 that our proposal does not offer 'even remotely fair value' to Tenet shareholders."

Community went on to say in its press release that the combination with Tenet would create a company with $22 billion in annual revenue that operates 176 hospitals in 30 states with 32,830 beds. The buyout would be accretive to earnings in the first full year, excluding one-time costs, Community said.

The premium on the offer, however, was somewhat lower when Community first made the overture on Nov. 12, when Tenet's stock price closed at $4.65 a share. The $6 offer would have been a 29% premium.

But Tenet's stock price steadily dropped between then and when the offer was rejected Dec. 6. It hit a low closing price of $4.08 on Nov. 30 and closed at $4.24 on Dec. 6.

Community Health officials would not comment outside the press release, but said they plan to hold a conference for investors Friday morning.

A slide presentation available on Community's Web site shows that the company plans to point out the results of its 2007 acquisition of Triad Hospitals and how it improved margins at the Triad facilities from 12% to 14.8%. Community's slide show also points out that its organic growth rate, profitability, cash flow and management expertise is superior to that of Tenet.

Based in Nashville, Tenn., Community is the nation's largest publicly traded hospital operator. Dallas-based Tenet, meanwhile, has had a history of difficulties, most recently settling in 2006 with the federal government on charges of Medicare fraud. Tenet agreed to pay $725 million in cash and forego $175 million in Medicare payments.

Further, the company was forced to sign a "corporate integrity agreement" with the Health and Human Services Department's Inspector General Office relating to its Medicare reimbursement claims.