Things seem to be looking up for once beleaguered Tenet Healthcare these days. After years of financial and legal troubles, the company's stock is taking a turn for the better, according to the Chicago Tribune. Admissions rates have been rising since Tenet's fourth quarter ended, while the Department of Health and Human Services has given the company quality ratings since changing management and closing investigations. "Regarding the turnaround, based on the 4Q07 results, it's no longer a question of 'if,' but 'when,' we will see that translate into positive earnings and cash flow," said Sheryl Skolnick, senior vice president of CRT Capital Group LLC. All of this is a far cry from its $900 million settlement with the Justice Department for problems including billing fraud that marred 2003.
For more on Tenet's rise from the ashes:
- read the Chicago Tribune article