Tenet Management Intends to Spin-Off Conifer Following Strategic Review
On July 24, management at Tenet finally announced the conclusion of its long-running strategic review of its Conifer business, which provides revenue cycle management and other business services to Tenet's hospital organization and other third-party providers. While management preferred an outright sale, and got relatively far along in the due diligence process with a handful of interested parties, they didn't receive an acceptable valuation for the asset and have elected to pursue a spin-off to...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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