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)

114K

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

Executive Vice President & Chief Financial Officer

Secretary, Executive Vice President & General Counsel

Chief Executive Officer-Texas Region

Executive Vice President & Chief Compliance Officer

Executive Vice President & Chief Information Officer

Executive Vice President & Chief Human Resources Officer

Chief Medical Operations Officer

Chief Executive Officer, Desert Market

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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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LBA provides investment management services using an approach based on fundamental analysis, broad diversification, an international perspective, careful stock selection and low turnover. Their style is conservative and they do not short securities and do not trade in options or derivatives. The firm takes an enterprise value approach and they must be able to justify the price they pay using standard financial principles. Longer investment horizons are stressed when monitoring portfolio decisions. LBA tends to avoid securities with a lot of valuation risk or those that are too dependent on extraordinary future growth or improvements in profitability. Typically, the firm’s portfolios have lower P/Es and P/CF multiples, higher current yields, and higher EBITDA/TMV and REVENUES/TMV ratios.

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NCM utilizes a long-term fundamental value investing methodology with a primary focus on small to mid-sized US companies. They practice research intensive, fundamental security selection and base their investment decisions on internally generated research and research obtained from outside sources. The firm focuses on intrinsic value by identifying securities which are mispriced relative to the real economic value they represent and on the expected timing for the mispricing to be corrected by market forces.

Recent Transactions
Details Hidden

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

Details Hidden

purchases Conifer Health Solutions LLC from Tenet Healthcare Corporation

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

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

Legal Advisor

Partner at Sidley Austin 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. 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, behavioural health, medical management capabilities. The Corporate 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.

At WellPoint, we believe there is an important connection between our members’ health and well-being—and the value we bring our customers and shareholders. So each day we work to improve the health of our members and their communities. WellPoint is one of the nation’s largest health benefits companies, with more than 36 million members in its affiliated health plans and nearly 67 million individuals served through its subsidiaries. One in nine Americans receives coverage for their medical care through WellPoint's affiliated plans. We offer a broad range of medical and specialty products.

Cigna Corp. is a global health service company, which is dedicated to improving the health, well-being and peace of mind. Its products and services include an integrated suite of health services such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits and other related products including group life, accident and disability insurance.

Chairperson, Bankruptcy & Financial Restructuring Practice Group at Manatt, Phelps & Phillips LLP

Key Stats and Financials As of 2019
Market Capitalization
$2.82B
Total Enterprise Value
$21.8B
Earnings Per Share
$-2.24
Revenue
$18.5B
EBITDAMargin
13.69%
Enterprise Value / Sales
1.18x
Enterprise Value EBITDAOperating
8.22x
TEVNet Income
-93.96x
Debt TEV
0.72x
Total Equity
$1.99B
EBITDA
$2.53B
Total Debt
$15.8B
Net Profit
$-232M
Three Year Compounded Annual Growth Rate Of Revenue
-1.98%
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. Trusts & Funds | 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: Senior Housing Triple-Net, Senior Housing Operating Portfolio (SHOP), Life Science, and Medical Office. The Senior Housing Triple-Net and Operating Portfolio segments manage senior housing facilities, which include independent living, assisted living and memory care facilities, care homes, and continuing care retirement communities by utilizing triple-net leases and RIDEA structures. 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 company was founded in March 1985 and is headquartered in Irvine, CA.

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 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, surgical hospitals, ambulatory surgery centers, and radiation oncology centers. 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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