Tenet Healthcare rises on deal to sell five hospitals for $910 mln

Tenet Healthcare

05/08/2024 18:49

** Hospital operator Tenet Healthcare's  THC.N  shares rise
3.4% to $146.53
    ** Company says it will sell its majority ownership in
Brookwood Baptist Health in Birmingham, Alabama, for about $910
mln to not-for-profit healthcare organization Orlando Health
    ** Sale of THC's 70% interest includes five hospitals as
well as affiliated physician practices and other related
operations
    ** Company expects to record a pre-tax gain of about $375
mln from the transaction
    ** YTD, Tenet stock up 93.5%

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com))