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What’s Moving Tenet Healthcare Corp (THC) Stock Today?

Tenet Healthcare Corp (NYSE:THC) shares are soaring Thursday as the company is reportedly seeking a buyer to take over.

Tenet Healthcare Corp (THC)The company is one of the largest providers of health care in the U.S., and it was recently revealed that it could soon be for sale. There’s no shortage of suitors who could be interested in acquiring the company.

Such a move would allow a competitor to gain a larger market share in the industry, while also improving its services by using the company’s technology and clientele. For-profit hospital chains like HCA Healthcare Inc (NYSE:HCA) or Community Health Systems (NYSE:CYH) could be interested.

A sale is not certain as Tenet Healthcare is seeking a way to restructure its finances, with a sale being the most likely outcome. The company operates 77 acute-care hospitals, 21 short-stay hospitals and more than 460 outpatient centers across its subsidiaries, partnerships and joint ventures.

It could be difficult for Tenet Healthcare to merge with a company such as HCA due to the fact that federal regulators would likely examine the issue closely over antitrust considerations. However, the company may opt to divest parts of the company to nonprofit health systems seeking to expand  and bolster their services.

Tenet Healthcare CEO Trevor Fetter will be stepping down on March 15, the company announced recently. The company’s potential sale comes as it has been underperforming in recent quarters.

THC shares grew 4.7% Thursday.

Article printed from InvestorPlace Media, https://investorplace.com/2017/09/tenet-healthcare-corp-thc/.

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