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Monday, March 23, 2015

Tenet, United Surgical to form joint venture for $1.9 bln, (NYQ: THC)

Hospital operator Tenet Healthcare Corp said it would form a joint venture with United Surgical Partners International in a cash and debt transaction valued at $1.93 billion to be the largest provider of ambulatory surgery in the United States. Dallas-based USPI is controlled by private equity firm Welsh, Carson, Anderson & Stowe.

Tenet Healthcare Corporation along with its subsidiaries is an investor-owned health care services company. Shares of THC fell by 1.49% or $-0.75/share to $49.62. In the past year, the shares have traded as low as $37.95 and as high as $63.61. On average, 1797940 shares of THC exchange hands on a given day and today's volume is recorded at 1851341.