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Outpatient Growth Drives Tenet's Net Income Boost in 3Q

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Hospital operator Tenet Healthcare said its net income climbed in the third quarter, driven primarily by a growth in outpatient procedures, according to a CBS News report.

Tenet shares rose nearly 10 percent in afternoon trading as the re-election of President Obama gave boost to hospital stocks. Tenet, which runs 49 hospitals and 100 outaptient facilities, reported strong growth in outpatient surgery and emergency room visits.

Adjusted admissions, a figure that includes both inpatient admissions and outpatient procedures, rose 1.4 percent from a year ago.

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