Tenet to Acquire Vanguard in Surprise $4.3B Deal



The deal to buy Vanguard will expand Tenet's footprint to 30 markets across 16 states. Charlie Martin, Vanguard's founder, chairman, and CEO, will join Tenet's board of directors, and Keith Pitts, Vanguard's vice chairman, will serve Tenet as vice chairman.



1 comments on "Tenet to Acquire Vanguard in Surprise $4.3B Deal"
Andy Cowherd (6/25/2013 at 10:33 AM)

The Affordable Care Act should continue to drive consolidation, particularly for smaller hospitals. However, there's another important angle to this transaction. Blackstone still owns 38% of Vanguard and this transaction allows them to monetize their position at a premium. Otherwise they'd be faced with a series of secondary offerings at unpredictable prices. A good deal for them.

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