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THC

Tenet

$21.76

-0.9 (-3.97%)

12:07
10/03/16
10/03
12:07
10/03/16
12:07

Tenet Healthcare to pay $513M to settle DoJ kickback charges

Tenet Healthcare Corporation and two of its Atlanta-area subsidiaries will pay over $513M to resolve criminal charges and civil claims relating to a scheme to defraud the United States and to pay kickbacks in exchange for patient referrals, the U.S. Department of Justice said. In addition, two Tenet subsidiaries, Atlanta Medical Center Inc. and North Fulton Medical Center Inc., have agreed to plead guilty to conspiracy to defraud the United States and to pay health care kickbacks and bribes in violation of the Anti-Kickback Statute. The plea agreements remain subject to acceptance by the court. Up until April 2016, Atlanta Medical Center Inc. and North Fulton Medical Center Inc. owned and operated acute-care hospitals located in the greater Atlanta metropolitan area. Atlanta Medical Center Inc. and North Fulton Medical Center Inc. were charged in a criminal information filed today in federal court in Atlanta with conspiracy to defraud the United States by obstructing the lawful government functions of HHS and to violate the AKS, which, among other things, prohibits payments to induce the referral of patients for services paid for by federal health care programs. The two Tenet subsidiaries have agreed to plead guilty to the charges alleged in the criminal information and will forfeit over $145M to the United States - which represents the amount paid to Atlanta Medical Center Inc. and North Fulton Medical Center Inc. by the Medicare and Georgia Medicaid programs for services provided to patients referred as part of the scheme. In the civil settlement, Tenet agreed to pay $368 million to the federal government, the state of Georgia and the state of South Carolina to resolve claims asserted in United States ex rel. Williams v. Health Mgmt. Assocs., Tenet Healthcare, et al., a lawsuit filed by Ralph D. Williams, a Georgia resident, in the Middle District of Georgia, under the federal and Georgia False Claims Acts. The acts permit whistleblowers to file suit for false claims against the government entities and to share in any recovery. The federal share of the civil settlement is $244,227,535.30, the state of Georgia will recover $122,880,339.70 and the state of South Carolina will recover $892,125. Mr. Williams' share of the combined civil settlement amount is approximately $84.43M. Reference Link

  • 06

    Nov

THC Tenet
$21.76

-0.9 (-3.97%)

04/13/16
SUSQ
04/13/16
UPGRADE
SUSQ
Positive
Tenet upgraded to Positive from Neutral at Susquehanna
05/03/16
RBCM
05/03/16
NO CHANGE
RBCM
Envision, Team Health have good read through from ED visits, says RBC Capital
Noting that hospital chains Tenet (THC) and Universal Health (UHS) reported significant year-over-year growth in emergency department visits, RBC Capital says the data suggest "good volume trends" for Envision Healthcare (EVHC) and Team Health (TMH). The firm thinks that the latter two companies' results could beat expectations. It keeps Outperform ratings on both stocks.
05/04/16
MZHO
05/04/16
DOWNGRADE
MZHO
Neutral
Tenet downgraded to Neutral from Buy at Mizuho
05/04/16
05/04/16
DOWNGRADE
Target $33

Neutral
Tenet downgraded to Neutral on cash flow issues at Mizuho
As previously reported, Mizuho downgraded Tenet to Neutral from Buy and maintained its $33 price target. Analyst Sheryl Skolnick said she is concerned about the continued need to spend cash on settlements and payments that do not create shareholder value and views shares as fully valued.

TODAY'S FREE FLY STORIES

QTS

QTS Realty Trust

$52.90

-0.14 (-0.26%)

07:12
04/24/17
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07:12
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  • 02

    May

CARA

Cara Therapeutics

$16.53

-0.56 (-3.28%)

07:12
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STLD

Steel Dynamics

$35.37

0.46 (1.32%)

07:10
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AKS

AK Steel

$6.72

-0.1 (-1.47%)

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NUE

Nucor

$60.00

-0.35 (-0.58%)

07:10
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X

U.S. Steel

$30.42

-0.09 (-0.29%)

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  • 26

    Apr

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

, PPG

PPG

$105.94

-0.43 (-0.40%)

07:09
04/24/17
04/24
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07:09
Hot Stocks
Breaking Hot Stocks news story on AkzoNobel, PPG »

AkzoNobel confirms third…

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

PPG

PPG

$105.94

-0.43 (-0.40%)

03/08/13
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SAGE

SAGE Therapeutics

$72.82

1.19 (1.66%)

07:09
04/24/17
04/24
07:09
04/24/17
07:09
Hot Stocks
SAGE Therapeutics appoints Michael Cloonan as Chief Business Officer »

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XOMA

XOMA

$7.73

0.26 (3.48%)

07:09
04/24/17
04/24
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07:09
Hot Stocks
XOMA says X213 shown to be safe and effective in phase 2 study »

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  • 18

    May

AMDA

Amedica

$0.38

0.01 (2.70%)

07:08
04/24/17
04/24
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07:08
Hot Stocks
Amedica announces regulatory clearance to market, sell Valeo in Australia »

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HSBC

HSBC

$39.94

-0.09 (-0.22%)

, JPM

JPMorgan

$84.52

-1.03 (-1.20%)

07:07
04/24/17
04/24
07:07
04/24/17
07:07
Periodicals
HSBC selected to advise on $100B Aramco IPO, Reuters reports »

HSBC (HSBC) has been…

HSBC

HSBC

$39.94

-0.09 (-0.22%)

JPM

JPMorgan

$84.52

-1.03 (-1.20%)

MS

Morgan Stanley

$41.80

-0.7 (-1.65%)

03/08/13
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  • 26

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    Apr

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    Jul

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    Oct

AKER

Akers Biosciences

$1.80

0.1 (5.88%)

07:07
04/24/17
04/24
07:07
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07:07
Hot Stocks
Akers Biosciences says digital apps approved by Apple Store »

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DHT

DHT Holdings

$4.60

-0.05 (-1.08%)

07:07
04/24/17
04/24
07:07
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07:07
Hot Stocks
DHT Holdings announces delivery of two VLCCs from BW Group »

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SFR

Colony Starwood Homes

$34.82

0.12 (0.35%)

07:07
04/24/17
04/24
07:07
04/24/17
07:07
Initiation
Colony Starwood Homes initiated  »

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  • 09

    May

  • 15

    May

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

, PPG

PPG

$105.94

-0.43 (-0.40%)

07:06
04/24/17
04/24
07:06
04/24/17
07:06
Hot Stocks
AkzoNobel says will 'carefully review' PPG's third unsolicited proposal »

Akzo Nobel N.V. (AKZOY)…

AKZOY

AkzoNobel

$27.96

-0.11 (-0.39%)

PPG

PPG

$105.94

-0.43 (-0.40%)

03/08/13
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PLYA

Playa Hotels & Resorts

$10.26

-0.04 (-0.39%)

07:06
04/24/17
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07:06
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07:06
Initiation
Playa Hotels & Resorts initiated  »

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  • 09

    May

FLR

Fluor

$50.58

0.09 (0.18%)

, BP

BP

$34.00

-0.15 (-0.44%)

07:06
04/24/17
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07:06
Hot Stocks
Fluor awarded offshore compression platform FEED by BP »

Fluor (FLR) announced…

FLR

Fluor

$50.58

0.09 (0.18%)

BP

BP

$34.00

-0.15 (-0.44%)

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  • 04

    May

PRTK

Paratek Pharmaceuticals

$22.00

0.4 (1.85%)

07:05
04/24/17
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07:05
Hot Stocks
Paratek, Zai Lab announce collaboration for Omadacycline in China »

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PRTK

Paratek Pharmaceuticals

$22.00

0.4 (1.85%)

07:04
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04/24
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07:04
Hot Stocks
Paratek highlights potential for omadacycline to provide cost savings vs. SOC »

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BWLD

Buffalo Wild Wings

$161.75

-2 (-1.22%)

07:04
04/24/17
04/24
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07:04
Hot Stocks
Buffalo Wild Wings announces filing of proxy materials »

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  • 26

    Apr

GWW

Grainger

$195.15

-0.81 (-0.41%)

07:04
04/24/17
04/24
07:04
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07:04
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Grainger rating change  »

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  • 26

    Apr

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  • 24

    Jan

ATEC

Alphatec

, CAE

CAE

$15.21

-0.06 (-0.39%)

07:04
04/24/17
04/24
07:04
04/24/17
07:04
Conference/Events
American Association of Neurological Surgeons to hold annual meeting »

2017 AANS Annual…

ATEC

Alphatec

CAE

CAE

$15.21

-0.06 (-0.39%)

EDGE

Edge Therapeutics

$9.02

-0.02 (-0.22%)

MDT

Medtronic

$80.48

-0.54 (-0.67%)

NUVA

NuVasive

$75.02

-0.68 (-0.90%)

SYK

Stryker

$132.94

0.18 (0.14%)

VRTX

Vertex

$116.70

-0.56 (-0.48%)

SYNA

Synaptics

$50.76

-0.34 (-0.67%)

NVIV

InVivo Therapeutics

$3.90

-0.35 (-8.24%)

LMAT

LeMaitre

$25.14

-0.23 (-0.91%)

MZOR

Mazor Robotics

$35.68

0.64 (1.83%)

OFIX

Orthofix

$38.95

0.33 (0.85%)

SSNLF

Samsung

SIEGY

Siemens

$67.34

-0.197 (-0.29%)

SNE

Sony

$33.68

0.85 (2.59%)

03/08/13
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  • 25

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    May

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  • 06

    Jun

AMRI

Albany Molecular

$15.82

0.04 (0.25%)

07:04
04/24/17
04/24
07:04
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07:04
Hot Stocks
Denovo obtains license to Albany Molecular's liafensine »

Denovo Biopharma…

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  • 06

    Jun

OPB

Opus Bank

$20.80

0.6 (2.97%)

07:03
04/24/17
04/24
07:03
04/24/17
07:03
Earnings
Opus Bank reports Q1 EPS ex-items 24c, consensus 27c »

Reports Q1 book value per…

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  • 24

    Apr

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    May

PRTK

Paratek Pharmaceuticals

$22.00

0.4 (1.85%)

07:03
04/24/17
04/24
07:03
04/24/17
07:03
Hot Stocks
Paratek: Omadacycline 'effective' against most common skin infections, MRSA »

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