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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.

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