The Community Health Take over is now done and Tenet is now seeking the expenses and administrative costs created by the take over attempt as Tenet refused the final offer. Tenet will be filing a lawsuit. Also remember back when Tenet stated they had evidence of potential fraud with Community, HHS also decided to take a look inside so no word on whether or not the government will still be investigating I think everyone was pretty tired of the situation and read somewhere too that even citizens in Tennessee where CHS is located were not happy with all of the ruckus, in other words it was just a corporate blood bath war that stands to raise the cost of what we pay for hospital care in the long run. BD
Tenet Files Suit Accusing Community Health Of Inflating Hospital Admissions
Tenet Healthcare Corp. (THC) will seek damages for the cost of resisting Community Health Systems Inc. now-terminated takeover bid, a Tenet lawyer said.
Community Health dropped a $7.3 billion offer to buy Dallas-based Tenet on May 10 after Tenet had rejected a takeover three times. Community Health, the second-largest U.S. hospital operator, also withdrew a slate of 10 nominees for Tenet’s board.
While fending off the offer, Tenet had sued Franklin, Tennessee-based Community Health, alleging the hospital operator systematically admitted patients for financial rather than medical purposes and overcharged Medicare.
“They have withdrawn their slate of officers, so that issue has gone away,” Rob Walters, the lawyer for Tenet, said after a hearing in federal court today in Dallas. “We still have the costs and economic impacts associated with the effort they made.”
Tenet Healthcare Seeks Damages for Fending Off Community Health Buyout Bid - Bloomberg
I find this so incredibly ironic, given that Tenet has one of the richest histories regarding fraud.ReplyDelete