2 Tenet board members resign

Dallas-based Tenet Healthcare Board of Directors members Randy Simpson and Matt Ripperger resigned effective Aug. 17.

Both Mr. Simpson and Mr. Ripperger are employed with Glenview Capital Management, a hedge fund. They jointly wrote a letter to the board stating that they are stepping down "due to irreconcilable differences regarding significant matters impacting Tenet and its stakeholders." Mr. Simpson and Mr. Ripperger also note that while both they and their employer feel it is best for them to leave the board, "Glenview remains fully committed to its ownership stake in Tenet and its desire to drive improved performance, culture and value."

Tenet disclosed the resignations in a Form 8-K filing with the Securities and Exchange Commission.

Tenet, which operates 77 acute care hospitals, ended the second quarter with a net loss of $56 million, compared to a net loss of $44 million in the same period of the year prior. The company recorded revenues of $4.8 billion in the second quarter of 2017, a 1.4 percent decrease year over year.

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