DALLAS--(BUSINESS WIRE)-- Tenet Healthcare Corporation (NYSE: THC) today announced it has withdrawn from preliminary discussions regarding a potential acquisition of the Australian private hospital operator Healthscope Limited (HSP.AX). Due to the sequence of events associated with the acquisition process, including the premature disclosure of non-public information regarding Tenet’s preliminary interest in Healthscope, Tenet has been unable to complete the work necessary to thoroughly convey to shareholders the potential value, including the inherent risks and opportunities, of this transaction. Although the due diligence process has commenced, it is in the early stages and has not proceeded as quickly and completely as anticipated. Tenet has concluded that in order to eliminate a prolonged period of uncertainty and market speculation surrounding this possible transaction, it is best to withdraw from this process.
Tenet Healthcare Corporation is a health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers and diagnostic imaging centers. Tenet’s hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.
Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2009, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
KEYWORDS: Australia United States North America Australia/Oceania Texas
INDUSTRY KEYWORDS: Practice Management Health Hospitals Nursing Managed Care