Tenet Swings to Profit as Admissions Fall

Dallas-based Tenet Healthcare Corp., the nation’s largest publicly traded hospital company, swung to a profit in the fourth quarter but reported a decline in admissions in the ailing economy, according to a report in The Dallas Morning News.

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Tenet posted quarterly net income of $21 million compared with a net loss of $33 million in the same quarter last year.  For the year, Tenet’s net income was $181 million compared with $25 million in 2008, according to the Morning News. Revenue for the year rose 5 percent to $9 billion.

Admissions to Tenet hospitals fell 0.9 percent during the quarter, a trend also seen among other hospital operators around the country.

Read The Dallas Morning News‘ story on Tenet’s fourth quarter.

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