Moody's: Tenet Healthcare's decision to spin-off Conifer in 2021 is credit negative
Announcement: Moody's: Tenet Healthcare's decision to spin-off Conifer in 2021 is credit negative. Global Credit Research- 25 Jul 2019. New York, July 25, 2019-- Moody's Investors Service commented that Tenet Healthcare Corporation's decision to spin-off its stake in its Conifer business by the end of the second quarter of 2021, announced on July 24th, is credit negative because it will reduce the company's business diversification and modestly lower scale while introducing a...Tenet Healthcare is a healthcare services company. Through its subsidiaries, partnerships and joint ventures, including USPI Holding Company, Inc., the company operates hospitals, surgical hospitals and outpatient centers. In addition, the company's Conifer Holdings, Inc. (Conifer) subsidiary provides healthcare business process services in the areas of hospital and physician revenue cycle management and care solutions to healthcare systems, as well as individual hospitals, physician practices, self-insured organizations, health plans and other entities. The company has three reportable segments: Hospital Operations and other; Ambulatory Care; and Conifer.
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