Tenet Healthcare Completes Strategic Transaction With CommonSpirit Health To Resume Full Ownership Of Conifer Health Solutions

Tenet Healthcare Corporation -1.10%

Tenet Healthcare Corporation

THC

188.17

-1.10%

Tenet Healthcare Corporation (NYSE:THC) today announced the completion of a strategic transaction with CommonSpirit Health involving Tenet's Conifer Health Solutions subsidiary.

Key terms of the transaction include:

  • Payments totaling approximately $1.9 billion from CommonSpirit to Tenet in installments over the next three years
  • Approximately $540 million redemption payment from Conifer to CommonSpirit to address the elimination of CommonSpirit's capital account and the redemption of CommonSpirit's 23.8% equity stake in Conifer, retroactively effective January 1, 2026
  • Incremental Tenet earnings in 2026 as a result of the January 1, 2026 equity transfer that would otherwise have been paid to CommonSpirit
  • Conifer will continue to support CommonSpirit through the end of 2026 which will conclude Conifer's services. The financial terms are consistent with the existing contract.

This transaction will result in a reduction of Tenet's redeemable non-controlling interest and other liabilities on its balance sheet of approximately $885 million and an increase to Tenet's additional paid in capital of approximately $305 million.

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