Stratrix
On the Record · Tenet Healthcare

Tenet Healthcare acquisitions, on the record

The businesses Tenet Healthcare bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
56 fully operational UCCs and one telehealth center located in Arizona (from NextCare, Inc.)
Word for word“In December 2023, we completed a joint venture transaction with NextCare, Inc. (“NextCare”) and certain of its affiliates pursuant to which we acquired ownership interests in 56 fully operational UCCs and one telehealth center located in Arizona.” 10-K for 2023
acquisitionIn December 2023—
20 ASCs in which we did not have a previous investment
Word for word“During the year ended December 31, 2023, we acquired controlling ownership interests in 20 ASCs in which we did not have a previous investment, and we opened nine de novo ASCs.” 10-K for 2023
acquisitionDuring the year ended December 31, 2023—
San Ramon Regional Medical Center 51% ownership interest (to John Muir; not completed)
Word for word“In December 2023, John Muir announced it no longer intended to pursue its proposed acquisition of our 51% ownership interest in San Ramon Regional Medical Center and certain related operations after the FTC took action to challenge the transaction.” 10-K for 2023
agreed divestitureIn December 2023—
OCLA Hospitals
Word for word“Also in January 2024, we entered into a definitive agreement for the sale of the OCLA Hospitals; the transaction is expected to be completed by early 2024, subject to customary regulatory approvals, clearances and closing conditions.” 10-K for 2023
agreed divestitureIn January 2024—
nearly 50 UCCs held in our Hospital Operations segment
Word for word“Continuing operations excludes the results of our hospitals and other businesses classified as discontinued operations for accounting purposes during 2022 and 2021.” 10-K for 2023
divestiture——
a 36-bed rehabilitation hospital in El Paso
Word for word“In 2024, we continued to pursue advantageous opportunities to grow our portfolio of hospitals and other healthcare facilities.” 10-K for 2024
acquisition——
SC Hospitals
Word for word“For the years ended December 31, 2025 and 2024, information presented on a same-hospital basis includes the results of our same 47 hospitals and those outpatient centers we operated throughout both years, and excludes the results of: (1) three hospitals located in South Carolina and certain related operations (the “SC Hospitals”) we sold in January 2024; (2) four hospitals and certain related operations located in Orange County and Los Angeles County, California (the “OCLA CA Hospitals”) we sold in March 2024; (3) two hospitals and certain related operations located in San Luis Obispo County, California (the “Central CA Hospitals”), which we also sold in March 2024; (4) Westover Hills Baptist Hospital, the acute care hospital we opened in Texas in July 2024; (5) a rehabilitation hospital in El Paso, Texas, in which we acquired a majority ownership interest in September 2024; (6) five hospitals and certain related operations located in Alabama we divested in September 2024 (the “AL Hospitals” and, together with the SC Hospitals, OCLA CA Hospitals and Central CA Hospitals, the “Divested Hospitals”); (7) Florida Coast Medical Center, the acute care hospital we opened in Florida in September 2025; and (8) businesses classified as discontinued operations for accounting purposes during those periods, along with other ancillary facilities acquired or divested during the reporting periods that have a limited financial or operational impact.” 10-K for 2025
divestitureJanuary 2024—
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Cash received from selling businesses
2016-12-31$117 million$573 million
2017-12-31$50 million$827 million
2018-12-31$113 million$543 million
2019-12-31$25 million$63 million
2020-12-31$1.18 billion$77 million
2021-12-31$1.22 billion$1.25 billion
2022-12-31$234 million$210 million
2023-12-31$224 million$71 million
2024-12-31$571 million$4.98 billion
2025-12-31$308 million$38 million

Deal filings since 2016

Read from Tenet Healthcare’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-17. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.