Tenet Healthcare Corp posted a fourth-quarter net loss on Monday due to costs primarily for financing its acquisition of Vanguard Health Systems.Tenet acquired Vanguard for about $1.8 billion last fall to expand into new markets and position itself to benefit from an increase in patients with health insurance under President Barack Obama's healthcare reform.Earnings from continuing operations, excluding $60 million in acquisition-related costs and expenses for restructuring, litigation and other items, exceeded analysts' expectations.Excluding items, income from continuing operations was $43 million, or 43 cents a share, down from $65 million, or 60 cents a share, in the same period a year ago.
Tenet Healthcare Corporation (Tenet), along with its subsidiaries, is an investor-owned health care services company. Shares of THC traded higher by 3.12% or $1.46/share to $48.33. In the past year, the shares have traded as low as $36.29 and as high as $49.47. On average, 1729410 shares of THC exchange hands on a given day and today's volume is recorded at 2428130.
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