Tenet Healthcare Announces Plans To Spin Off Conifer - Quick Facts

(RTTNews) - Tenet Healthcare Corp. (THC) has decided to pursue a tax-free spin-off of Conifer as an independent publicly traded company. The company expects to complete the spin-off by the end of the second quarter of 2021.

Stephen Mooney, CEO of Conifer, has resigned. Kyle Burtnett, COO of Conifer Health Solutions, has been appointed Interim CEO of Conifer. Tenet is conducting a national search for a permanent CEO of Conifer.

Conifer is a technology-enabled healthcare services company providing outsourced revenue cycle management and population health management services to health systems, physicians and employer groups across the country.

Also, Tenet Healthcare reported that its second-quarter adjusted EBITDA was comfortably within its outlook range and consistent with consensus estimates.