Tenet Healthcare Corp. has added a chief information officer and a chief marketing officer. The Dallas-based company brought on Paola Arbour as senior vice president and CIO. Arbour replaces Paul Browne, who took a job at Detroit-based Henry Ford Health System earlier this year. Tenet also added Marie Quintana as SVP and CMO. She’s the company’s first enterprise-wide CMO, although the company has had CMOs at the business unit level, according to a spokesperson. Both will be direct reports to CEO Ron Rittenmeyer. Arbour joins Tenet from ProV International, which does software development and managed services. She ran the ServiceNow… Full Story
With Q1 earnings time having come and gone, Modern Healthcare on Monday took a look at a trend that emerged across first-quarter reports from the largest for-profit hospital systems: They’re making more money per patient. And among them, Dallas-based Tenet Healthcare Corp. made the largest leap by that metric, growing revenue per admission by 4.1 percent during the first quarter of 2018. Tenet leadership, as MH points out, attributed that to higher acuity, particularly within its expanding sectors of cardiovascular and trauma. It says the trend is sustainable. Interestingly, the No. 2 system by growth in revenue per admission also… Full Story
Tenet Healthcare Corp. reported net income attributable to shareholders of $98 million for the first quarter of 2018. They recorded a net loss of $52 million during the same period last year. The figures were a part of the Dallas-based giant’s quarterly report, which was released on Monday afternoon. Tenet is in a pivotal year, as the company has set its sights on a $250-million cost-cutting plan, including slashing thousands of jobs. Tenet also restructured a joint venture with Baylor Scott & White Health and is exploring a sale of Frisco-based Conifer Health Solutions. Tenet posted a loss of $230… Full Story
Tenet Healthcare Corp. said Thursday that it has acquired another 15 percent ownership stake in United Surgical Partners International, taking on the portion previously owned by Welsh, Carson, Anderson & Stowe. The Dallas-based company now owns 95 percent of USPI, with the remaining five percent belonging to Baylor Scott & White Health. Tenet paid $630 million for the 15 percent stake and to satisfy obligations from a 2017 equity purchase. The acquisition had been expected to close in July 2019. “USPI is a great business led by an exceptional team,” said Tenet Healthcare CEO Ron Rittenmeyer, in a statement. “Accelerating… Full Story
Tenet Healthcare Corp., which has been wrestling with activist investors as of late, will do some good this month by setting out to amass 1,000 hours of volunteer service via the employees at its Dallas headquarters. Tenet employees are volunteering at eight non-profits: Visiting Nurse Association, Dallas Afterschool, North Texas Food Bank, Trinity Food Conservancy, Rebuilding Together North Texas, Community Partners of Dallas, Operation Kindness, and Crossroads Community Services. “We are committed to making a difference in the communities we serve and proud to support the important work of these eight exemplary non- profit organizations as they address challenging issues… Full Story
Dallas-based Tenet Healthcare has come to an agreement with its largest shareholder, Glenview Capital Management, that takes one bylaw tweak off the table, instills others, and ensures that Glenview will support nominees and proposals from Tenet’s board of directors at the company’s 2018 annual meeting. In a news release on Monday, Tenet said that the New York-based hedge fund—which owns a nearly 18 percent stake in the company—has agreed to drop a February proposal to allow any shareholder to take action by written consent, without a meeting. Glenview has also agreed to vote its shares in support of the board’s… Full Story
On Thursday, California-based Pipeline Healthcare Management LLC closed on its deal to buy Baylor Scott & White Medical Center – White Rock, a joint venture between Baylor Scott & White Health and Tenet Healthcare. The hospital will operate as City Hospital at White Rock. Pipeline says it will expand medical staff at the 218-bed facility with a particular focus on primary care and other underserved specialties. News of the deal first dropped back in December. It’s Pipeline’s first move into Texas, but in a previous interview, Dr. Vincent Green, a principal with the company, told D CEO Editor Glenn Hunter that… Full Story
Dallas-based Tenet Healthcare Corp. has formed a joint venture with California-based John Muir Health, which will give the latter a minority stake in Tenet’s San Ramon (Calif.) Regional Medical Center. The partners plan to develop nearby outpatient facilities and change the governing boards of the hospital and ambulatory care units. In a statement, Jeff Koury, senior vice president for Tenet’s California region, said the company would continue to pursue joint venture partners in the markets it serves. Tenet operates 49 hospitals and 100 freestanding outpatient centers.
Healthcare merger and acquisition spending fell near 40 percent in 2012, and was the lowest in nearly a decade.
The AMA, the College of Healthcare Information Management Executives and the Federation of American Hospitals are urging the federal government to suspend and evaluate its electronic health records incentive program.
Dallas-based Tenet Healthcare Corp. has received government approval to acquire Lakewood IPA, a 400-member independent physician association in California, according to a report in Modern Physician. The FTC gave the green-light earlier this week, the report said, but the deal has not been publicly announced and sources from both sides declined to comment. According to Modern Physician, Lakewood IPA is a multi-specialty network of physicians managed by Coast Healthcare Management. The medical group is affiliated with two hospitals in the Lakewood, Calif. area: the 157-bed Lakewood Regional Medical Center, owned by Tenet, and the 420-bed Long Beach Memorial Medical Center,… Full Story