Feb 24 Tenet Healthcare Corp posted a
fourth-quarter net loss on Monday because of costs primarily for
financing its acquisition of Vanguard Health Systems.
Earnings before interest, tax, depreciation and amortization
and excluding special items increased 32 percent to $444 million
from a year ago.
Dallas-based Tenet reported a net loss of $24 million, or 24
cents a share, compared with net income of $49 million, or 45
cents, a year ago. Net operating revenue increased about 67
percent in the quarter to $3.89 billion.
Tenet completed the acquisition of Vanguard for about $1.8
billion on Oct. 1 to expand into new markets and position itself
to benefit from an increase in patients who have health
insurance under President Barack Obama's healthcare reform.
Tenet shares closed Monday at $48.33, up 3.1 percent.