Tenet Healthcare Corp. (THC) may have surprised Wall Street by predicting a fourth-quarter profit, but its lack of further earnings visibility highlights the toll an ailing U.S. economy and tough credit markets are taking on the hospital industry.
Hospitals have struggled for years with tepid volumes of commercially insured patients and large numbers of uninsured patients who can’t pay their medical bills. Now, the credit crisis has prompted many Read the rest of this entry »

Tenet Healthcare Corp. (THC) may have surprised Wall Street by predicting a fourth-quarter profit, but its lack of further earnings visibility highlights the toll an ailing U.S. economy and tough credit markets are taking on the hospital industry.
Hospitals have struggled for years with tepid volumes of commercially insured patients and large numbers of uninsured patients who can’t pay their medical bills. Now, the credit crisis has prompted many Read the rest of this entry »

has risen from a net loss for the third quarter of last year to post earnings of $104 million, or 22 cents per share, for the third quarter of 2008. That is up from a net loss of $59 million, or 12 cents per share, during the same quarter last year.
Dallas-based Tenet (NYSE: THC), which has 10 hospitals in Southern California, attributes its third-quarter income rise to pre-tax gains on investment sales, valued at $140 million.
During the quarter, Read the rest of this entry »

Associated Press
10.08.08,
11:23 AM ET
Tenet Healthcare Corp.
edged higher Wednesday after the hospital operator said it will close a hospital in Irvine, Calif., in early 2009.
After the markets closed on Tuesday, the company announced plans to close Irvine Regional Hospital and Medical Center on Jan. 15, 2009. Tenet is letting its lease on the property expire and was told by owner HCP Inc. that the new lessee does not want an operating Read the rest of this entry »