Glenview Capital Buys More Tenet Healthcare ~ market folly

Monday, October 5, 2015

Glenview Capital Buys More Tenet Healthcare

Larry Robbins' hedge fund firm Glenview Capital recently filed a Form 4 with the SEC regarding its position in Tenet Healthcare (THC).  Per the filing, Glenview now owns 16.49 million THC shares.

They acquired 500,000 shares on September 30th at weighted average prices of $36.21 and $36.92.  Tenet has been a longstanding holding of the hedge fund's as part of their for-profit hospital basket.  THC shares are down 36% over the past three months.

We've also highlighted other recent portfolio activity from Glenview here.

Per Google Finance, Tenet Healthcare is "a healthcare services company. The Company operates regionally focused, integrated healthcare delivery networks in large urban and suburban markets. As of December 31, 2014, it operated 80 hospitals, 210 outpatient centers, six health plans and Conifer Health Solutions, LLC (Conifer), which provides healthcare business process services in the areas of revenue cycle management, value-based care and patient communications. It provides operational management for revenue cycle functions, including patient access, health information management, revenue integrity and patient financial services. It also offers communications and engagement solutions to optimize the relationship between providers and patients. Conifer operates a management services business that supports value-based performance through clinical integration, financial risk management and population health management. It has two operating segments: Hospital Operations and other, and Conifer."

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