Dallas-based Tenet Healthcare reported a smaller third-quarter profit this week, due partly to costs associated with its $4.3 billion acquisition of Vanguard Health Systems, the company said.
Tenet’s revenue increased 8.4 percent to $2.41 billion from $2.22 billion in the prior-year period—due to an increase in emergency department visits and surgeries—but the company’s net income was $28 million, down from $40 million in the same period last year.
The day after the announcement, Tenet’s stock tumbled 8.83 percent, down to $44 a share.
