Dallas-based Tenet Healthcare (pdf) released a new four-point plan today that is centered on accelerating the rate of growth for the business and its shareholders.
The four core ideas in Tenet's plan include the following:
• Near-term acquisitions of acute-care hospitals, outpatient facilities and healthcare business services that will total $400 million. (Last week, Tenet and Emanuel Medical Center in Turlock, Calif., announced a potential transaction.)
• A $500 million repurchasing of common stock, which will be based on market conditions, share price and other factors.
• Roughly $800 million of new debt, which will cover the aforementioned acquisitions and will pay off $216 million of Tenet's debt that is due in February 2013.
• Effective Oct. 11, there will be a reverse stock split, meaning that a new Tenet share will be issued in exchange for every four existing shares.
The four core ideas in Tenet's plan include the following:
• Near-term acquisitions of acute-care hospitals, outpatient facilities and healthcare business services that will total $400 million. (Last week, Tenet and Emanuel Medical Center in Turlock, Calif., announced a potential transaction.)
• A $500 million repurchasing of common stock, which will be based on market conditions, share price and other factors.
• Roughly $800 million of new debt, which will cover the aforementioned acquisitions and will pay off $216 million of Tenet's debt that is due in February 2013.
• Effective Oct. 11, there will be a reverse stock split, meaning that a new Tenet share will be issued in exchange for every four existing shares.
More Articles on Tenet Healthcare:
For-Profit Hospital Stock Report: Week of Sept. 24-28, 2012
Tenet Healthcare Explores Affiliation With Emanuel Medical Center in California
49 Statistics on Major For-Profit Hospital Chain Finances