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MarketScreener Homepage  >  Equities  >  Nyse  >  Tenet Healthcare Corporation    THC

TENET HEALTHCARE CORPORATION

(THC)
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U.S. sues to block $350 mln Tennessee hospital deal

11/13/2020 | 03:56pm EST

WASHINGTON, Nov 13 (Reuters) - The U.S. Federal Trade Commission filed a lawsuit aimed at stopping Methodist Le Bonheur Healthcare, which has four hospitals in the Memphis area, from acquiring two more in a deal valued at $350 million, the agency said on Friday.

The five FTC commissioners voted unanimously to bring the lawsuit, which would stop Methodist from buying two hospitals, known as St. Francis, now owned by Tenet Healthcare Corp.

The purchase would reduce the number of hospital systems providing general acute care in the Memphis area from four to three and give Methodist some 60% of that market, the agency said.

The companies said in a statement that they were "surprised" by the FTC opposition. "We are reviewing this recent action by the FTC and actively considering next steps," said Sally Hurt-Deitch, CEO of Saint Francis Healthcare and Michael Ugwueke, president of Methodist Le Bonheur, in a joint email statement.

(Reporting by Diane Bartz Editing by Nick Zieminski)


© Reuters 2020
All news about TENET HEALTHCARE CORPORATION
01/21TENET HEALTHCARE : UBS Adjusts Tenet Healthcare's Price Target to $60 From $37, ..
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01/14TENET HEALTHCARE : Raymond James Adjusts Tenet Healthcare's Price Target to $60 ..
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01/14TENET HEALTHCARE : to Report its Fourth Quarter Results on February 9
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01/12TENET HEALTHCARE : Presentation PDF 1.40 MB
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01/11TENET HEALTHCARE : Expects Adjusted Ebitda To Meet Or Exceed Street Estimates
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01/11TENET HEALTHCARE CORP : Results of Operations and Financial Condition (form 8-K)
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01/08TENET HEALTHCARE CORP : Change in Directors or Principal Officers (form 8-K)
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01/08TENET HEALTHCARE : Appoints Cecil Haney to its Board of Directors
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01/08TENET HEALTHCARE : Credit Suisse Adjusts Tenet Healthcare's Price Target to $52 ..
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01/08TENET HEALTHCARE : Jefferies Upgrades Tenet Healthcare to Buy From Hold; Price T..
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Financials (USD)
Sales 2020 17 711 M - -
Net income 2020 205 M - -
Net Debt 2020 13 716 M - -
P/E ratio 2020 26,1x
Yield 2020 -
Capitalization 5 354 M 5 354 M -
EV / Sales 2020 1,08x
EV / Sales 2021 1,03x
Nbr of Employees 101 104
Free-Float 67,3%
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Technical analysis trends TENET HEALTHCARE CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 49,63 $
Last Close Price 50,74 $
Spread / Highest target 36,0%
Spread / Average Target -2,20%
Spread / Lowest Target -60,6%
EPS Revisions
Managers and Directors
NameTitle
Ronald A. Rittenmeyer Executive Chairman & Chief Executive Officer
Saumya Sutaria President, Chief Operating Officer & Director
Daniel J. Cancelmi Chief Financial Officer
Paola Arbour Chief Information Officer & Senior Vice President
Joseph Robert Kerrey Lead Independent Director
Sector and Competitors