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Tenet buoyed by earnings beat, Humana, HCA deals

May 1, 2017

Alongside a sizable earnings beat, Tenet Healthcare (NYSE:THC) and Humana (NYSE:HUM) have inked a new multiyear agreement in which all of Tenet’s hospitals and hospital-affiliated outpatient centers and employed physicians will be phased back into Humana’s network between June and October.

The company has also reached a deal with HCA Holdings (NYSE:HCA) for the sale of Tenet’s acute care hospitals and related operations in Houston. Net proceeds are seen at $725M and the deal should close in Q3. Last year, these facilities generated adjusted EBITDA of about $80M.

Shares +14%

Previously: Tenet Healthcare beats by $0.24, misses on revenue (May 1)

http://bit.ly/2pBVZ9E

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