Three details:
1. Tenet said it will use the proceeds from the sale to fund its $1.2 billion acquisition of Towson, Md.-based SurgCenter Development and ownership interest in 92 of the company’s ASCs.
2. If there is a surplus from the sale or the acquisition is not completed, Tenet may use the proceeds for general corporate purposes, including repayment and refinancing of other debt, cash on balance sheet, working capital and capital expenditures.
3. Completion of the offering, subject to closing and other conditions, is expected to occur on Dec. 1.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.