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Tenet Healthcare hires advisers to explore options -source
September 13, 2017 / 9:22 PM / in 2 months

Tenet Healthcare hires advisers to explore options -source

Sept 13 (Reuters) - Tenet Healthcare Corp has hired advisers to explore strategic alternatives, including a potential sale of the hospital operator, a person familiar with the matter said on Wednesday.

The discussions are in the early stages and there is no guarantee they will lead to a sale, added the person, who could not speak for attribution because the talks are private.

Tenet declined to comment.

News of the strategic review was first reported by the Wall Street Journal.

Last month, Tenet said it would replace longtime Chief Executive Trevor Fetter and members of its board, in response to pressure from its largest shareholder to shake up the hospital company’s management.

Tension has been rising between Tenet and Glenview Capital Management, an activist investor that owns 17.8 percent of its stock.

Glenview pulled two of its executives from Tenet’s board earlier in August, citing irreconcilable differences over strategy. (Reporting by Carl O‘Donnell in New York; Additional reporting by Mike Flaherty and Michael Erman in New York; Editing by Matthew Lewis)

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