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Tenet Healthcare is buying Vanguard Health Systems for $21 a share
Tenet's acquisition of Vanguard focuses on the sprawling U.S. hospital and healthcare practice industry, which is quietly in the throes of consolidation, according to industry sources.
The company will expand its total base of hospitals to 79 and its number of outpatient facilities to 157, the company said in a statement. Vanguard Health Solutions will also further diversify Tenet into states such as Texas and increase the company's overall footprint to 16 states.
Tenet highlights states such as Texas should see a fast rising base of customers in the wake of 'Obamacare,' in a Monday press release. Analysts have noted the Act may increase the number of users of hospitals and outpatient facilities, while also reducing companies' bad debt expense, given an expected increase in overall healthcare coverage nationwide. States previously lagging in coverage may see the biggest change.
I'm going through one as we speak. Of course they blame the ACA, but really they have made some HORRIBLE financial decisions over the last 3 years that have devastated the company: too much expansion, buying buildings we don't need, Etc.