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Tenet Healthcare’s management makes debt reduction ‘a high priority’
By Devika Patel
Knoxville, Tenn., March 15 – Tenet Healthcare Corp. is focused on paying down debt, which is “a high priority.”
“[Our focus on reducing debt is] very sharp,” chief financial officer Daniel Cancelmi said at the Barclays Global Healthcare Conference in Miami on Thursday.
“We’ve committed to being 5x or under and that’s the target and that’s what we’re working against.
“A lot of that will come out of EBITDA.
“Paying down debt is a high priority for us,” he said.
The company expects $785 million of EBITDA in 2018.
“We’re projecting about $785 million of EBITDA this year,” Cancelmi said.
Tenet is a Dallas-based owner and operator of acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related healthcare facilities.
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