Mr. Fetter stepped down from his role as CEO and director of the 77-hospital chain Oct. 23.
The decision to terminate its sale process will allow the health system to focus on finding a permanent CEO to replace Mr. Fetter and determine the organization’s long-term strategies, the anonymous sources told Reuters.
Despite calling off the prospective sale, one source told Reuters the company is still exploring several options to minimize its $15 billion debt and increase shareholder value.
Tenet officials declined to comment to Reuters on the issue.
Editor’s note: Becker’s Hospital Review reached out to Tenet Healthcare for comment and will update the article as more information becomes available.
More articles on transactions and valuations:
Wake Forest Baptist to purchase High Point Regional
Johns Hopkins goes global, pursues 19 healthcare ventures across 5 continents
S&P wary of proposed Partners HealthCare, Care New England deal
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