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Tenet Healthcare 8-K Report, Financial Results (Feb 2, 2026)

Reports
Earnings & Results·Regulation FD·Other Events+1
Filing Date
Filed February 2, 2026
Period End
January 27, 2026
Security
THC
In the record · 2016–202610-K1110-Q338-K176

THC filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 176 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Jan ’19Jan ’19
  2. Deal closed8-K · Dec ’20Dec ’20
  3. Leadership change8-K · Jan ’23Jan ’23
  4. Leadership change8-K · Jan ’25Jan ’25

01—Abstract

Summary

Summary of the 8-K filed February 2, 2026. Cited figures are marked; the original filing is the authoritative source.

Tenet Healthcare Corporation (NYSE: THC) filed this Form 8-K on February 2, 2026 to report two items: a completed strategic transaction with CommonSpirit Health involving its Conifer Health Solutions subsidiary, and a preliminary expectation for 2025 results.

Under an Omnibus Agreement dated January 27, 2026, CommonSpirit's revenue cycle management services contract with Conifer will terminate effective December 31, 2026. CommonSpirit will pay Tenet an aggregate $1.9 billiona in annual installments over the next three years, of which $540 million was satisfied on January 27, 2026 by offsetting a $540 million amount due to CommonSpirit from Conifer Health. Conifer Health will redeem CommonSpirit's 23.8% equity interest for that $540 million, effective January 1, 2026, and the parties will exchange mutual releases.

The filing states the transaction will reduce Tenet's redeemable non-controlling interest and other liabilities by approximately $885 millionb and increase additional paid-in capital by approximately $305 million. Management also states that Tenet expects incremental 2026 earnings from the January 1, 2026 equity transfer that would otherwise have gone to CommonSpirit, and that Conifer will continue serving CommonSpirit through the end of 2026. Tenet also expects Adjusted EBITDA for the year ended December 31, 2025 to be at the upper end of its current guidance range of $4.47 billion to $4.57 billion.

The company cautions that final results may differ, and that its financial statement close is not yet complete. Full fourth-quarter and full-year 2025 results are scheduled for release on February 11, 2026.

02—Key points

Key Highlights

  1. CommonSpirit Health will pay Tenet an aggregate $1.9 billion in annual installments over the next three years, with $540 million satisfied on January 27, 2026 through an offset against the amount due from Conifer Health.
  2. Conifer Health will redeem CommonSpirit's 23.8% equity interest for $540 million, effective January 1, 2026, and the revenue cycle services agreement terminates effective December 31, 2026.
  3. The transaction reduces Tenet's redeemable non-controlling interest and other liabilities by approximately $885 million and increases additional paid-in capital by approximately $305 million.
  4. Tenet expects incremental 2026 earnings from the January 1, 2026 equity transfer that would otherwise have been paid to CommonSpirit.
  5. Tenet preliminarily expects 2025 Adjusted EBITDA at the upper end of its $4.47 billion to $4.57 billion guidance range, driven by strong same-store revenue growth and disciplined expense management.
  6. Final 2025 results may differ from preliminary estimates, and full fourth-quarter and full-year 2025 results are scheduled for February 11, 2026.

03—Questions

Frequently Asked Questions

  1. What is the transaction with CommonSpirit Health?

    Under an Omnibus Agreement dated January 27, 2026, CommonSpirit will pay Tenet $1.9 billion over three years in annual installments. Conifer Health will redeem CommonSpirit's 23.8% equity stake for $540 million, and Conifer's revenue cycle management services to CommonSpirit will end effective December 31, 2026. Tenet describes the transaction as allowing it to resume full ownership of Conifer Health Solutions.

  2. How will the transaction affect Tenet's balance sheet?

    The filing states the transaction will reduce Tenet's redeemable non-controlling interest and other liabilities by approximately $885 million and increase additional paid-in capital by approximately $305 million.

  3. What is Tenet's preliminary 2025 Adjusted EBITDA outlook?

    Tenet expects 2025 Adjusted EBITDA to be at the upper end of its current guidance range of $4.47 billion to $4.57 billion. The company notes that its financial statement close is not yet complete and that final results may differ from these preliminary estimates.

  4. Will the transaction affect Tenet's 2026 earnings?

    Tenet states that the January 1, 2026 equity transfer will generate incremental 2026 earnings, since the amount would otherwise have been paid to CommonSpirit. The filing does not quantify this incremental amount.

  5. When will Tenet release its full 2025 results?

    Tenet says it will announce complete fourth-quarter and full-year 2025 results on February 11, 2026.

04—Continue

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