Tenet Healthcare withdraws from preliminary discussions regarding potential acquisition of Healthscope

Tenet Healthcare Corporation (NYSE: THC) today announced it has withdrawn from preliminary discussions regarding a potential acquisition of the Australian private hospital operator Healthscope Limited (HSP.AX). Due to the sequence of events associated with the acquisition process, including the premature disclosure of non-public information regarding Tenet's preliminary interest in Healthscope, Tenet has been unable to complete the work necessary to thoroughly convey to shareholders the potential value, including the inherent risks and opportunities, of this transaction. Although the due diligence process has commenced, it is in the early stages and has not proceeded as quickly and completely as anticipated. Tenet has concluded that in order to eliminate a prolonged period of uncertainty and market speculation surrounding this possible transaction, it is best to withdraw from this process.

SOURCE Tenet Healthcare Corporation