Conifer CEO Steps Down Amid Spin-off From Tenet

Conifer Health Solutions CEO Stephen Mooney is leaving his position as Tenet Healthcare plans for a tax-free spin-off of Conifer Health Solutions into its own public company. The new company is meant to maximize Conifer’s value after Tenet’s strategic review process analyzed it’s future.   Tenet has appointed Kyle Burtnett, Chief Operating Officer of Conifer, as the interim CEO while it conducts a national search for a permanent Conifer CEO. Burtnett has been Conifer COO since 2017, and was previously the President of Ambulatory Services and Chief Integration Officer for Tenet’s United Surgical Partners International subsidiary.  Tenet CEO Ronald Rittenmeyer said via… Full Story

Report: UnitedHealth Eyeing Tenet’s Conifer

The Wall Street Journal reports this week that UnitedHealth Group is among the companies taking a hard look at Tenet Healthcare’s Frisco-based Conifer Health Solutions. Tenet has been dangling its healthcare management subsidiary on the open market since December, although it has maintained it might choose to keep the division. It accounts for about $1.6 billion in revenue—about eight percent of Tenet’s total—but has been a bright spot for the company amid recent cuts and restructuring. The WSJ says Conifer could fetch $2 billion or more from an acquisition.

Morning Rounds (10.02.12)

Tenet Healthcare Corp. has announced a stock split, acquisition plans, and other financial initiatives.

Americans are making fewer trips to the doctor, according to a U.S. Census Bureau report.

American Medical News reports on a study that reveals what makes patients want to come back.

Conifer Health Solutions has agreed to buy InforMed Health Care Solutions, in a deal it says will add $50 million to its bottom line. Full Story

Conifer Health Solutions to Acquire InforMed Health Care

Conifer Health Solutions, a subsidiary of Dallas-based Tenet Healthcare Corp., has agreed to acquire InforMed Health Care Solutions. It expects the company to contribute more than $50 million in incremental annual revenue to Conifer. An information management and services company based in Annapolis, Md., InforMed has 230 clients in the Northeast, Mid-Atlantic, and Midwest, more than 300 employees, extensive  healthcare data, and proprietary technology. The acquisition will supplement Conifer Health’s existing suite of business process management solutions by providing additional population health management capabilities, expanding Conifer’s service offerings and accelerating their time to market. “We are very excited to be adding… Full Story