Tenet Healthcare Agrees To Sell Three Tenet Hospitals And Related Operations In South Carolina To Novant Health For Approximately $2.4B In Cash (After-tax Proceeds Of Approximately $1.75B)
Portfolio Pulse from Benzinga Newsdesk
Tenet Healthcare has agreed to sell three of its hospitals and related operations in South Carolina to Novant Health for about $2.4 billion in cash. The after-tax proceeds from the sale are expected to be approximately $1.75 billion.
November 17, 2023 | 11:47 am
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Tenet Healthcare's sale of three hospitals to Novant Health for $2.4B in cash could strengthen its balance sheet with after-tax proceeds of $1.75B.
The sale of significant assets like hospitals is a major strategic move for Tenet Healthcare, likely to be viewed positively by investors as it provides a substantial cash influx. This could be used to reduce debt, invest in other areas, or return capital to shareholders. The high after-tax proceeds indicate a strong deal for Tenet, potentially leading to a short-term increase in stock price.
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