Monday, May 2, 2011

Community Health Systems Raises Bid by 20% for Tenet With Best and Final Offer

This makes yet another offer and we also have the lawsuit filed by Tenet against Community Health System too.  Who would ever think hospitals would be involved with hostile take overs, but here’s one.  Tenet is not to anxious to become part of Community Health from what we have seen and there’s also the investigation that HHS has started with Community too that was recently announced. 

Who’s advising Community on this affair, none other than Goldman Sachs.

Tenet Files Suit Accusing Community Health Of Inflating Hospital Admissions

Community Health has been working at a hostile takeover of Tenet which started back in January, or least that’s when it started receiving coverage in the news.  Community even went so far as to recommend replacing their board of directors with their suggestions.

Community Health Converts Bid to $3.3 Billion Bid in Cash-Warming Up For Some of the Most Complicated Algorithmic Auditing Lawsuits in History With Healthcare

We might just be warming up for the most technical lawsuits ever filed, the battles of the hospital algorithms.  We better get some better intelligence in Congress and seriously think about our processes as with digital illiteracy we as a nation of citizens are set to be screwed in more ways than one when all this shakes lose with formulas beyond normal comprehension with skewed and denied care for patients, but nobody did anything wrong, correct?

Tenet Tells Community Health Thanks But No Thanks in Response to Their Submission of 10 Nominees for Tenet’s Board of Directors

Community Health Systems Inc.'s boosted its hostile takeover offer for Tenet Healthcare Corp. by more than 20%, making a "best and final offer" and giving its rival a week to respond—the latest move in the contentious takeover fight.

Tenet said its board will review the revised proposal—which increases the all-cash bid to $7.25 a share, or some $4.07 billion, from $6 a share—and noted that its directors have unanimously rejected Community Health's previous offers. Tenet has been aggressive in battling its pursuer, including filing a federal lawsuit last month that accused Community Health of overbilling Medicare.

Community Health Raises Offer for Tenet by 20% - WSJ.com






No comments:

Post a Comment