Tenet Healthcare Corporation

Tenet Healthcare Corporation

Tenet Healthcare Corporation

Overview
Date Founded

1975

Headquarters

1445 ROSS AVENUE, SUITE 1400, DALLAS, TX, 75202

Type of Company

Public

Employees (Worldwide)

110K

Industries

Hospitals & Patient Services
Biotechnology

Company Description

Through our values of quality, integrity, service, innovation and transparency, Tenet is a disciplined operating company uniquely positioned for growth. Since 2003, Tenet's Commitment to Quality has improved the quality of medical care and patient safety at its hospitals and other businesses by evaluating processes and promoting best practices. As the world in which Tenet operates continues to change, Tenet's Commitment to Quality will remain focused on quality, the growing quality gap relative to top performers in the industry, and the fact that payers and employees use quality as a distinguishing factor. Visit the Quality Care page for more information. Tenet has taken the lead in addressing the needs of the uninsured through its Compact With Uninsured Patients. Established in 2003, the Compact focuses on treating patients without insurance fairly and with respect during and after their treatment, regardless of their ability to pay. Tenet also is committed to working with its patients through financial counseling and alternative payment options.

Contact Data
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Executives & Employees

Chief Executive Officer

President & Chief Operating Officer

Chief Financial Officer & Executive Vice President

Secretary, Executive Vice President & General Counsel

Chief Executive Officer-Texas Region

Executive Vice President & Chief Compliance Officer

Chief Information Officer & Executive Vice President

Chief Medical Operations Officer

Chief Nursing Officer

Chief Executive Officer, Desert Market

Board of Directors

Chief Executive Officer at Tenet Healthcare Corporation

Executive Vice President, Chief Accounting Officer & Chief Financial Officer at Southwest Airlines Co.

Chairman & President at Ameren Illinois Co.

Former Governor of Nebraska

Former Partner, Department of Professional Practice at KPMG LLP

Former Director, President & Chief Executive Officer at Owens & Minor, Inc.

Senior Partner at The Beneficient Company Group LP

President & Chief Operating Officer at Tenet Healthcare Corporation

Former 44th Surgeon General at United States Army

Member-Managers Board at Johns Hopkins University Applied Physics Laboratory LLC

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Tenet Healthcare Corporation
Owners & Shareholders
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Glenview's investment process employs deep, fundamental research and individual security selection primarily within equity and credit-oriented strategies. The firm employs a GARP investment approach that focuses on companies in stable industries, with recurring revenue streams or entrenched market positions. They may also focus on contrarian investments (cyclical or company specific). Glenview often combines GARP and contrarian investing when a steady growth business emerges within a company as the dominant economic force over a more challenged business unit. GCM invests in stored or hidden value situations, where excess balance sheet capacity may be used to accelerate returns or where contractual rights or startup operations show no present value but may be significant drivers of value tomorrow. In addition to long equity investments, GCM commits significant capital to short equity positions. They look for companies whose industries face cyclical, transitory or secular headwinds, whose competitive position is likely to erode over the near- to medium-term, and companies whose liquidity profile will potentially create equity value impairment or cause future issuance of additional equity at lower prices. GCM may also maintain short positions in equity index futures or other index products to reduce net market risk. The firm also engages in long and short credit positions with emphasis on business or asset stability over growth. They may seek to reduce the risk through other hedges that protect the overall portfolio of the funds, including interest rates, foreign currencies or sovereign, corporate or asset-backed credit spreads.

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Harris uses a value investment philosophy in selecting equity and equity-like securities of US and non-US issuers. The firm's investment philosophy spans across large, mid and small-cap companies. In addition, Harris may hedge a client’s exposure to direct or indirect foreign currencies. In constructing portfolios for their clients, the firm seeks out companies that they believe are trading in the market at significant discounts to their underlying value. Harris uses a bottom-up approach focused on individual companies, rather than focusing on specific economic factors or industries. They generate their research ideas from a variety of internal and external sources. The firm’s research process seeks to identify companies selling at a discount to its estimate of intrinsic value.

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Camber Capital Management seeks to generate capital appreciation without regard to current income by investing primarily in publicly-traded common stocks of healthcare companies across a variety of industries including healthcare services and facilities, pharmaceuticals, medical products and devices and biotechnology. Although most of their investments are within the healthcare industry, the firm may occasionally invest in other sectors if more attractive opportunities are identified. Camber Capital Management employs a fundamental, bottom-up research approach designed to identify high-quality companies whose inherent value is not adequately reflected in a company's market valuation.

Recent Transactions
Details Hidden

FastMed Urgent Care purchases United Surgical Partners International Inc/87 Ambulatory Cen from Tenet Healthcare Corporation

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Methodist Le Bonheur Healthcare purchases Tenet Healthcare Corp. /2 Subsidiaries from Tenet Healthcare Corporation

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ISMIE Mutual Insurance Co., Illinois State Medical Society Alliance purchase Southeast Michigan Physicians' Insurance Co. from Tenet Healthcare Corporation

Insider Transactions
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Transaction Advisors
Accountant

Advised onVanguard Health Systems, Inc., The Blackstone Group, Inc. purchase Tenet Healthcare Corp. /3 Massachusetts Hospitals from Tenet Healthcare Corporation

Accountant

Advised onTenet Healthcare Corporation purchases OrNda Healthcorp

Legal Advisor

Advised onTenet Healthcare Corporation purchases Surgery Affiliate of El Paso LLC

Co-Chair, Global Finance Practice Group

Advised onTenet Healthcare Corporation purchases Vanguard Health Systems, Inc. from Morgan Stanley Capital Partners, The Blackstone Group, Inc.

Legal Advisor

Advised onTenet Healthcare Corporation purchases Vanguard Health Systems, Inc. from Morgan Stanley Capital Partners, The Blackstone Group, Inc.

Legal Advisor

Advised onTenet Healthcare Corporation purchases Vanguard Health Systems, Inc. from Morgan Stanley Capital Partners, The Blackstone Group, Inc.

Advisors & Consultants
Legal Advisor

Managing Partner-Elect at Gibson, Dunn & Crutcher LLP

Legal Advisor

Co Chair, Business Restructuring & Reorganization Practice Group at Gibson, Dunn & Crutcher LLP

Legal Advisor

Co-Chair, Antitrust & Competition Practice Group at Gibson, Dunn & Crutcher LLP

Clients

CVS Health Corp. engages in the provision of health care services. It operates through the following segments: Pharmacy Services, Retail or Long Term Care, Health Care Benefits, and Corporate/Other. The Pharmacy Services segment offers pharmacy benefit management solutions. The Retail or Long Term Care segment includes selling of prescription drugs and assortment of general merchandise. The Health Care Benefits segment offers traditional, voluntary and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, medical management capabilities. The Corporate/Other segment involves in providing management and administrative services. The company was founded by Stanley P. Goldstein and Ralph Hoagland in 1963 and is headquartered in Woonsocket, RI.

Humana Inc. engages in the provision of health insurance services. The firm operates through the following segments: Retail, Group and Specialty and Healthcare Services. The Retail segment consists of products sold on a retail basis to individuals including medical and supplemental benefit plans such as Medicare, and State-based Medicaid contracts. The Group and Specialty segment contains employer group fully-insured commercial medical products and specialty health insurance benefits marketed to individuals and groups, including dental, vision, military services and other supplemental health & voluntary insurance benefits. The Healthcare Services segment offer services such as pharmacy solutions, provider services, clinical care, predictive modeling and informatics services to other Humana businesses, as well as external health plan members, external health plans, and other employers. The company was founded by David A. Jones, Sr. and Wendell Cherry in 1961 and is headquartered in Louisville, KY.

Alegent Health provides healthcare services. It operates acute care hospitals and primary healthcare centers. The firm offers inpatient and outpatient behavioral health care, rehabilitation, cancer treatment, and immanuel fontenelle home services. The company was founded in 1996 and is headquartered in Omaha, NE

Partner at Manatt, Phelps & Phillips LLP

Key Stats and Financials As of 2020
Market Capitalization
$5.41B
Total Enterprise Value
$21.6B
Earnings Per Share
$3.75
Revenue
$17.6B
EBITDAMargin
11.99%
Enterprise Value EBITDAOperating
9.63x
EBITDA
$2.12B
Net Profit
$399M
Total Equity
$2.89B
Enterprise Value / Sales
1.22x
TEVNet Income
54.05x
Debt TEV
0.78x
Total Debt
$16.9B
Three Year Compounded Annual Growth Rate Of Revenue
-2.75%
Non-Profit Donations & Grants
Political Donations
$1,000
2014
$1,500
2014
$1,500
2014
Investments
Details Hidden

Connance, Inc. provides healthcare support services. It specializes in patient-centered predictive analytics. It offers revenue cycle and value-based analytics. The company was founded by Steven Levin, Stephen Farber, David Franklin and William Barrett in 2007 and is headquartered in Waltham, MA.

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MedVantx, Inc. provides medication access, adherence, and direct-to-patient consumer programs. It offers prescription assistance, patient engagement, anticipatory logistic solutions, and omni-channel platform. The company was founded Levin Scott Bechtler, Paul Cattaneo, and Robert J. Feeney Jr. in 2000 and is headquartered in San Diego, CA.

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Extended Care Information Network, Inc. provides care management process software solutions which are designed to improve the efficiency and operation of hospital case management departments. Its provides utilization management, case management and discharge planning solutions. The company was founded in 1995 and is headquartered in Chicago, IL.

Investors
Details Hidden
Suppliers
Healthpeak Properties, Inc. Real Estate | Irvine, CA

Healthpeak Properties, Inc. is a real estate investment trust, which invests primarily in real estate serving the healthcare industry in the United States. It acquires, develops, leases, sells, and manages healthcare real estate and provides mortgage and other financing to healthcare providers. It operates through the following business segments: Life Science, Medical Office and Continuing Care Retirement Community(CCRC). The Life Science segment contains laboratory and office space primarily for biotechnology, medical device and pharmaceutical companies, scientific research institutions, government agencies, and other organizations involved in the life science industry. The Medical Office segment includes pharmacies, hospital ancillary service space, and outpatient services such as diagnostic centers, rehabilitation clinics, and day-surgery operating rooms. The CCRC segment include independent living, assisted living, and skilled nursing units to provide a continuum of care in an integrated campus. The company was founded in March 1985 and is headquartered in Denver, CO.

Nuance Communications, Inc. Other Business & Consulting Services | Burlington, MA

At Nuance, we’re the people who make voice work. We design and deliver intuitive technologies that help people live and work more intelligently. We provide the tools to inform, to connect, and to empower people to be more productive and creative. We give people more than just control over their communications. We give them command of their lives. From speech technologies that help companies offer superior customer service experiences, to healthcare solutions that help physicians focus on patient care instead of documentation, to imaging technologies that convert physical documents into searchable digital files, our priority is creating solutions that put people in command. That’s what has made us the leading provider of speech and imaging solutions around the world.

Healthcare Trust of America, Inc. Trusts & Funds | Scottsdale, AZ

Healthcare Trust of America, Inc. operates as a real estate investment trust. It owns, operates and invests medical office buildings. The firm provides real estate infrastructure for the integrated delivery of healthcare services in desirable locations. The company was founded by Scott D. Peters on April 20, 2006 and is headquartered in Scottsdale, AZ.

Competitors
Universal Health Services, Inc. Hospitals & Patient Services - King of Prussia, PA

Universal Health Services, Inc. operates as a healthcare management company, which through its subsidiaries, owns and operates acute care hospitals, behavioral health centers, and outpatient facilities. It operates through the following segments: Acute Care Hospital Services, Behavioral Health Care Services, and Other. The Other segment consists of centralized services such as information technology, purchasing, reimbursement, accounting and finance, taxation, legal, advertising, and design and construction. The company was founded by Alan B. Miller in 1979 and is headquartered in King of Prussia, PA.

HCA Healthcare, Inc. Hospitals & Patient Services - Nashville, TN

HCA Healthcare, Inc. is a health care services company, which engages in operating hospitals, freestanding surgery centers and emergency rooms, and urgent care centers. It offers a full range of services to accommodate such medical specialties as internal medicine, general surgery, cardiology, oncology, neurosurgery, orthopedics and obstetrics, as well as diagnostic and emergency services. The company is headquartered in Nashville, TN.

Community Health Systems, Inc. Hospitals & Patient Services - Franklin, Tennessee

Community Health Systems, Inc. Is organized to promote, advance and strengthen, within the meaning of section 509(a)(3) of the internal revenue code of 1986, as amended, Community Senior Life, Inc., an Alabama nonprofit corporation described in sections 501(c)(3) and 509 (a)(1) of the code, and to support other nonprofit healthcare providers organized for charitable and civic purposes and related health and humanitarian endeavors which enhance the physical, mental and social well-being of frail elderly persons, and provide, promote and assist in enhancing the quality of life of aged persons.

Awards & Honors
Rank #140
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #140
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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