The Tenet Hospital Corp. reported a $61 million loss in the second quarter of 2015 following a slew of one-time charges not directly related to patient care.
The Wall Street Journal reports that per-share earnings beyond the write-downs, restructuring charges, and acquisition costs outpaced analysts’ expectations. The total charges wound up hitting the Dallas-based for-profit operator’s bottom line by $136 million between April and June, causing a drop of 61 cents per share.
But take out the charges and Tenet’s earnings rose to 74 cents from 17 cents year-over-year. The last quarter included a large scale acquisition of United Surgical Partners International Inc., making it the largest ambulatory surgical center operator in the country. As The Journal notes, Tenet also scooped up Aspen Healthcare Ltd. from the same parent company, England-based Welsh Carson Anderson & Stowe.