SC 13G/A: TENET HEALTHCARE CORP

AI Summary

SC 13G/A filing by TENET HEALTHCARE CORP.

Risk Assessment

Risk Level: low

Key Financial Figures

• $0.05 — ATION (Name of Issuer) Common Stock, $0.05 par value per share (Title of Class o

Filing Documents

• sayw24021426_13ga.htm (SC 13G/A) — 93KB
• 0000905148-24-000729.txt ( ) — 95KB

(a)

Item 1(a). Name of Issuer: Tenet Healthcare Corporation (the "Issuer")

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 14201 Dallas Parkway, Dallas, TX 75254

(a)

Item 2(a). Name of Person Filing This Statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons"): i) Glenview Capital Management, LLC ("Glenview Capital Management"); and ii) Larry Robbins ("Mr. Robbins"). This Statement relates to Shares (as defined herein) held for the accounts of Glenview Capital Partners, L.P., a Delaware limited partnership ("Glenview Capital Partners"), Glenview Capital Master Fund, Ltd., a Cayman Islands exempted company ("Glenview Capital Master Fund"), Glenview Offshore Opportunity Master Fund, Ltd., a Cayman Islands exempted company ("Glenview Offshore Opportunity Master Fund"), Glenview Capital Opportunity Fund, L.P., a Delaware limited partnership ("Glenview Capital Opportunity Fund"), and Glenview Healthcare Master Fund, L.P., a Cayman Islands limited partnership ("Glenview Healthcare Master Fund" and collectively, the "Glenview Funds"). Glenview Capital Management serves as investment manager to each of the Glenview Funds. Mr. Robbins is the Chief Executive Officer of Glenview Capital Management.

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the principal business office of each of Glenview Capital Management and Mr. Robbins is 767 Fifth Avenue, 44th Floor, New York, New York 10153.

(c)

Item 2(c). Citizenship: i) Glenview Capital Management is a Delaware limited liability company; ii) Mr. Robbins is a citizen of the United States of America.

(d)

Item 2(d). Title of Class of Securities: Common Stock, par value $0.05 per share (the "Shares")

(e)

Item 2(e). CUSIP Number: 88033G407 Item 3. If This Statement is Filed Pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a: This Item 3 is not applicable. SCHEDULE 13G Page 5 of 9 Pages Item 4.

(a)

Item 4(a) Amount Beneficially Owned: As of December 31, 2023, Glenview Capital Management and Mr. Robbins may be deemed the beneficial owner of 7,742,322 Shares. This amount consists of: (A) 266,697 Shares held for the account of Glenview Capital Partners (B) 2,655,537 Shares held for the account of Glenview Capital Master Fund (C) 1,213,702 Shares held for the account of Glenview Offshore Opportunity Master Fund (D) 3,497,440 Shares held for the account of Glenview Capital Opportunity Fund; and (E) 108,946 Shares held for the account of Glenview Healthcare Master Fund.

(b)

Item 4(b) Percent of Class: As of December 31, 2023, each of the Reporting Persons may be deemed the beneficial owner of approximately 7.62% of Shares outstanding. (There were 101,552,000 Shares outstanding as of October 20, 2023, based on the Issuer's quarterly report on Form 10-Q, filed on October 30, 2023.)

(c)

Item 4(c) Number of Shares as to which such person has: (i) Sole power to vote or direct the vote: 0 (ii) Shared power to vote or direct the vote: 7,742,322 (iii) Sole power to dispose or direct the disposition of: 0 (iv) Shared power to dispose or direct the disposition of: 7,742,322 Item 5. This Item 5 is not applicable. Item 6. See disclosure in Items 2 and 4 hereof. Certain funds listed in Item 2(a) are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person: See disclosure in Item 2 hereof. Item 8. Identification and Classification of Members of the Group: This Item 8 is not applicable. Item 9. Notice of Dissolution of Group: This Item 9 is not applicable. Item 10. Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. SCHEDULE 13G Page 6 of 9 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. GLENVIEW CAPITAL MANAGEMENT, LLC By: /s/ Mark J. Horowitz Mark J. Horowitz Co-President of Glenview Capital Management, LLC LARRY ROBBINS By: /s/ Mark J. Horowitz

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