Santa Monica-based Tenet Healthcare Corp., the big...
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Santa Monica-based Tenet Healthcare Corp., the big hospital company formed by National Medical Enterprises’ takeover of American Medical Holdings Inc., reported a $5.9-million fiscal fourth-quarter profit.
The results were the first reported since National Medical completed its purchase of Dallas-based American Medical on March 1. They were affected significantly by the ongoing integration of the companies.
The results also reflect lingering signs of the massive fraud scandal that cost National Medical $600 million in criminal and civil settlements over the last several years.
The earnings, equivalent to 3 cents a share, compare to a profit of $6.4 million, or 4 cents a share, for National Medical a year earlier.
Tenet’s revenue for the quarter ended May 31 was $1.36 billion, compared to $697 million for National Medical last year.
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