Tenet: Job eliminations to reach approximately 2,000 positions
Says executing on cost reduction plans to realize $250M in run-rate savings by the end of 2018. Says has initiated a process to sell Conifer. Says reducing corporate overhead by 20% compared to 2016. Says eliminated regional management layer in hospital business. Says further streamlining USPI. Sees realizing $125M in cost reductions in 2018, sees exiting 2018 with $250M of run-rate savings. Sas planning divestitures of non-core markets in the near term, including Aspen, Philadelhpia, and Chicago. Says focusing capital investments on services for chronic disease patients, higher acuity care, ambulatory access points, and tele-medecine. Says plans to buy-up to 95% stake in futher integrate USPI into the company's healthcare delivery business. Says demographics and patient demand remain attractive. Comments taken from the JPMorgan Healthcare Conference presentation.