Tenet focuses on paying debt as management thinks there is too much

By Devika Patel

Knoxville, Tenn., Dec. 4 – Tenet Healthcare Corp. plans to keep focusing on paying down debt as management believes the company has too much debt, despite a recent restructuring that pushed out short-term maturities.

“We restructured our debt, moved many of our short-term debt items out by a number of years,” executive chairman and chief executive officer Ronald A. Rittenmeyer said at the Bank of America Merrill Lynch 2019 Leveraged Finance Conference in Boca Raton, Fla., on Wednesday.

“So, we feel we’re in a much better place than we were.

“We still believe we have too much debt, and it’s an area that we continue to look at.

“We spend more time running the company on cash than we have in the past, so we’re going to continue to focus on the debt side,” he said.

Tenet Healthcare is a Dallas-based owner and operator of acute care hospitals, ambulatory surgery centers, diagnostic imaging centers and related health-care facilities.

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