Here are five things to know about Tenet’s financial results following the closing of the United Surgical Partners and Aspen Healthcare acquisitions.
1. Tenet reported adjusted EBITDA of $568 million for the second quarter, up 23.5 percent from $460 million in the second quarter of 2014.
2. Results for the quarter included $16 million of adjusted EBITDA generated by the Aspen and USPI acquisitions.
3. The company’s ambulatory segment had a 6.9 percent increase in revenue on a pro forma, same-facility systemwide basis. Cases increased 6.8 percent, while revenue per case increased 0.1 percent.
4. The USPI and Aspen acquisitions were completed in the second quarter on June 16. “We also completed our joint venture with USPI, which makes us the leader in the fast-growing ambulatory surgery sector. We continue to position Tenet as a partner of choice for not-for-profit health systems, and we remain incredibly optimistic about the many opportunities to grow with new and existing partners through our acute care business, USPI and Conifer,” said Trevor Fetter, chairman and CEO of Tenet.
5. Tenet’s adjusted net income from continuing operations was $76 million for the quarter. The company reported a net loss attributable to common shareholders of $61 million after-tax, compared to a net loss of $26 million after-tax in the prior year’s quarter.
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