The 61-hospital system, one of the largest for-profit systems in the country, will likely be able to offset ongoing inflationary pressures through organic growth, continued improved performance in its United Surgical Partners International ambulatory surgery center division, and potential merger and acquisition activity, Fitch said.
Capital expenditure will rise gradually and focus largely on the ASC business, Fitch added in its ratings commentary.
Tenet Health reported net income of $410 million in 2022. In its hospital sector, Tenet reported net operating revenue of $3.8 billion for the fourth quarter and $15 billion for the year.
Net operating revenue for its ambulatory business totaled $933 million for the quarter and $3.2 billion for the year, both up significantly from 2021 figures.
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