Tenet Healthcare Rises 11% On Decision To Sell Certain Hospitals For $2.4 Bln

(RTTNews) - Shares of Tenet Healthcare Corporation (THC) are rising more than 11% Friday morning after the company announced its decision sell three of its hospitals in South Carolina for about $2.4 billion in cash.

The company has decided to sell Coastal Carolina Hospital in Jasper County, Hilton Head Hospital in Beaufort County, and East Cooper Medical Center in Charleston County, along with its affiliated physician practices and other related hospital operations.

The healthcare company plans to pay down debt using the proceeds from the sale.

THC, currently at $64.54, has traded in the range of $42.76 - $85.40 in the last 1 year.