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Tenet ditches sale plans after CEO's departure

Dallas-based Tenet Healthcare ended efforts to sell itself following the departure of longtime leader Trevor Fetter Monday, two sources familiar with the matter told Reuters Thursday.

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.

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