Tenet Healthcare Not To Spin Off Conifer; Reaffirms FY22 Outlook

Tenet Healthcare Corporation (THC), a healthcare service provider, said on Tuesday that it has decided not to spin off its arm and healthcare business solutions provider, Conifer Health Solutions.

"Based on ongoing shareholder value creation opportunities and improved business fundamentals - the company will no longer pursue a spinoff of its Conifer Health Solutions subsidiary," the Dallas-headquartered firm said in a statement.

The subsidiary has achieved significant operational and financial progress in the last a few years and improved Tenet's earnings.

For the FY22, Tenet has reaffirmed its previous guidance. The company still expects the net operating revenue to be in the range of $19.50 billion - $19.90 billion.

The company projects its income from continuing operations of $502 million - $677 million, and EPS from continuing operation of $4.56 - $6.16.

For FY22, analysts, on average, expect the company to record its revenue at $19.92 billion and EPS of $6.7.

For the FY22, the Group expects its Conifer segment to report net operating revenue in the range from $1.32 billion to $1.37 billion, and adjusted EBITDA, from $360 million to $370 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
Follow RTT