Dallas-based Tenet Healthcare Corp. has released preliminary financial data related to its pending acquisition of Nashville, Tenn.-based Vanguard Health Systems, and Tenet projected its total assets through the first six months of this year would total more than $15.4 billion under the new organization.
The unaudited pro forma balance sheet combined Tenet's and Vanguard's financial data. Tenet based its figures on the most recent fiscal year for each organization (Tenet's most recent fiscal year ended Dec. 31, 2012, while Vanguard's ended this past June).
The larger Tenet company, which would have roughly 79 hospitals and more than 150 ambulatory surgery centers, would also have the following financial statistics through the first half of this year.
• Net operating revenue: $7.8 billion
• Operating income: $530 million
• Net loss: $136 million
• Cash and cash equivalents: $452 million
In June, Tenet announced it would purchase Vanguard, pending regulatory approval, for $4.3 billion in cash and debt assumption.
More Articles on Hospital Finance:
Tenet to Sell $4.6B in Notes to Fund Vanguard Deal
Physicians Realty Trust Acquires Foundation Surgical Hospital of El Paso
Which Massachusetts Hospitals Are Most Profitable?