Tenet Healthcare history

The company launched seven construction projects in 1971, in addition to another hospital purchase, and had tripled in size within a year.

1973: NME makes its first foray outside of California, acquiring a general hospital in Seattle, Washington, and building another in El Paso, Texas.

There were both domestic and international divisions within NME to oversee management services provided to other hospitals by 1974.

By 1975, NME owned, operated, and managed 23 hospitals and a home health care business.

These efforts culminated in the 1979 purchases of Medfield Corporation and The Hillhaven Corporation.

In 1980, NME signed a five-year, $150 million contract with Saudi Arabia to help develop healthcare facilities in that country.

More international contracts came in 1981, and by the end of that year NME had more than $1 billion in sales.

NME acquired National Health Enterprises in 1982, whose 66 additional long-term care facilities made NME the nation's second largest nursing home owner.

1983: NME streamlines its specialty interests by forming Recovery Centers of America (RCA), a subsidiary comprised of substance-abuse-recovery operations.

These included its equipment leasing and home care services, and even extended to health insurance and a Miami-based health maintenance organization (HMO) acquired in 1984.

The Rehab Hospital Services Corporation (RHSC) of Pennsylvania had been merged with NME in 1985 for this purpose.

Restructuring produced the new subdivisions of hospitals, specialty hospitals, long-term care, and retail services in 1986.

1990: As part of a broad internal restructuring, NME spins off its long-term care facilities and related operations as The Hillhaven Corporation.

By 1991, under Eamer's leadership, NME had more than tripled the number of psychiatric facilities it operated.

As for the cost of putting the past behind, by the end of 1993 settlements with only a few of the insurance companies in question had already topped $125 million.

In 1994, NME bought American Medical Holdings for $3.35 billion, which strengthened its presence in Southern California and South Florida, and extended into New Orleans, Louisiana and Texas.

The company was founded in March 1995 and is headquartered in Dallas, TX.“

In 1996, Tenet CEO Jeffrey Barbakow moved Tenet's headquarters from Santa Monica, California to Santa Barbara.

In 1998, Tenet purchased eight Philadelphia hospitals owned by the bankrupt Allegheny Health, Education & Research Foundation for $345 million.

By 2001, Tenet owned 111 hospitals in the United States, and profits were soaring.

In November 2002, federal agents seized documents at the Redding Medical Center in northern California, one of Tenet's best-performing hospitals, where the director of cardiology and the chairman of cardiac surgery were suspected of performing 25 to 50 percent of their surgeries unnecessarily.

In May 2003, Barbakow resigned as CEO, replaced by Trevor Fetter.

In 2007, Tenet appointed former Florida governor Jeb Bush to its board of directors to improve its reputation.

Other investments which benefited Tenet include launching Conifer Health Solutions in 2008, which serves about 300 hospitals in the USA alone.

By the end of 2009, the company rebounded to become the S&P 500's number 2 performer, with an operating revenue and net profit of $9 billion and $181 million, respectively.

The drive was launched in 2010 by Pam Taurence, a nurse at the Detroit Medical Center.

In May 2011, Tenet's board rejected a $7.3 billion takeover bid from Community Health Systems, Inc.

In August 2012, Tenet sold its Creighton University Medical Center in Nebraska.

In 2013, Tenet acquired Vanguard Health Systems, based in Nashville, Tennessee, in a deal worth $4.3 billion.

In March 2014, Tenet formed a partnership with the Yale New Haven Health System to create a healthcare delivery network in Connecticut.

On May 7, 2015, the Tenet board of directors appointed Trevor Fetter, Tenet's then president and CEO, as chairman of the board.

On October 3, 2016, it was announced that Tenet had agreed to pay a $514 million settlement in an agreement with the Department of Justice.

Trevor Fetter stepped down as CEO in October 2017, and Ron Rittenmeyer was named CEO in addition to his position of executive chairman.

As of 2018, Conifer served approximately 800 clients in the United States and processed $30 billion in net revenue annually.

In January 2019, Tenet Healthcare sold its three remaining Chicago-area for-profit hospitals to Los Angeles-based Pipeline Health, which is partially owned and operated by Eric E. Whitaker.

That December 2020, Tenet acquired the controlling interest in 45 ambulatory surgery centers from SurgCenter Development.