Tenet Healthcare

THC

Tenet Healthcare Corporation is a multinational investor-owned healthcare services company based in Dallas, Texas, United States. Through its brands, subsidiaries, joint ventures, and partnerships, including United Surgical Partners International (USPI), the company operates 65 hospitals and approximately 500 other healthcare facilities. Since its founding in 1969, Tenet has expanded significantly. Among other major acquisitions and formations, Tenet founded Conifer Health Solutions in 2008, MedPost Urgent Care in 2014, and in 2013 acquired Vanguard Health Systems, Inc., an investor-owned hospital company whose operations complemented Tenet's existing business. The acquisition created the third-largest investor-owned hospital company in the United States in terms of revenue and the third-largest in number of hospitals owned. In 2015, Tenet acquired USPI, which created the largest operator of outpatient surgery centers in the United States. In 2020, the company ranked 174th in the Fortune 500.

Tenet Healthcare has been a target of short sellers for a while. The current short interest of 2.34% is roughly at the average of the last 12 months (3.37%).