Dallas, Texas-based Tenet Healthcare Corporation is considering a sale, according to a report in the Dallas Business Journal.
Citing “people familiar with the matter,” it was the Wall Street Journal that first reported that Tenet is working with investment banks Lazard and Barclays PLC and meeting with possible buyers.
Suitors could include fellow for-profit chains like HCA Holdings, or companies in other healthcare sectors, like UnitedHealth Group’s Optum arm. The ambulatory care business is currently looking to make purchases that would bolster its outpatient care business, according to Forbes.
Tenet has a debt burden of more than $15 billion. With a market value of $1.6 billion, the company has an enterprise value of nearly $20 billion. Through its brands, subsidiaries, joint ventures, and partnerships, as of last year, Tenet, a multinational investor-owned healthcare services company, operates nine facilities in the U.K. and around 470 outpatient centers in 16 U.S. states.
The Dallas Business Journal report can be read in full here.
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