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November 16, 2009

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Tenet to beat profit forecasts as patient load increases

Tuesday, June 12, 2001 | 10:55 a.m.

SANTA BARBARA, Calif. -- Tenet Healthcare Corp. said today it expects its fiscal fourth-quarter earnings to exceed analysts' expectations due to strong admissions growth.

Tenet, the second largest investor-owned healthcare service company in the United States, owns Lake Mead Hospital in North Las Vegas.

Tenet today said it expects to beat the current consensus analyst estimate of 61 cents a share in the quarter ended May 31. In the year-earlier period, Tenet earned 51 cents a share.

Continued strength in reimbursement, effective cost controls and declining interest costs also helped boost Tenet's results from operations for both the quarter and full fiscal year.

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