Stock Alert: Tenet Healthcare Shares Reach New 52-Week High

(RTTNews) - Shares of Tenet Healthcare Corp. (THC) touched a new 52-week high of $40.76 Thursday morning, and are currently trading at $40.25, up $5.28 or 15.10%, with trading volume of 1.14 million versus an average volume of 1.28 million shares.

after the company announced that would acquire a portfolio of up to 45 ambulatory surgery centers or ASCs from SurgCenter Development or SCD. The 45 centers are located in Arizona, Florida, Indiana, Louisiana, Maryland, Ohio, New Hampshire, Texas and Wisconsin.

Under the deal, Tenet would purchase majority interests in up to 45 centers by fully acquiring SCD's interests, and partially acquiring interests from physician partners, for about $1.1 billion in cash and the assumption of about $18 million of center-level debt.

Tenet has completed the acquisition of a majority of the 45 centers and expects to complete the acquisition of the remainder by the end of 2020, pending the finalization of documentation and the receipt of certain state approvals.