Benzinga | Feb 10, 2021 08:14AM EST

Tenet Healthcare 15% Shareholder Glenview Capital Issues Letter Of Support For Spin-Off Of Conifer By Mid 2022

NEW YORK, Feb. 10, 2021 /PRNewswire/ -- Glenview Capital Management ("Glenview"), the largest shareholder of Tenet Healthcare Corporation ("Tenet" or the "Company") (NYSE:THC), today announced that it confirms its support of the Board's decision to spin-off the Company's Conifer subsidiary to shareholders in a tax-free transaction in mid-2022.

"We applaud the people of Tenet's resilience and focus on the front lines of the battle against Covid-19, and we support management's focus on worker and patient safety, operating efficiency and maximizing the number of patients who may be safely cared for throughout the pandemic," said Larry Robbins, Glenview CEO. "We believe Conifer's current and future customers will be best served through a continued growth of Conifer's capabilities, and we believe that all shareholders will benefit from Tenet's logical approach to launch Conifer as an independent Company by mid-2022 while continuing to evolve the Tenet portfolio to higher ambulatory mix, accelerating growth and strong cash generation."