Boston, MA 06/25/2013 (wallstreetpr) – The leading hospital operator of the United States, Tenet Healthcare Corp (NYSE:THC) had recently announced its plans buy its smaller competitor in the industry, Vanguard Health Systems Inc. The total aggregate value for the deal had been estimated to be $1.73 billion. This recent acquisition plans would enable Tenet Healthcare Corp (NYSE:THC) to secure beneficial market position in the industry, especially through the millions of Americans who would be covered with insurance under the President Barrack Obama’s healthcare reform.
Most of the healthcare providers in the country are concerned of the less frequent use of the health care services by the Americans. Such less frequent usage mandates that the healthcare providers in the market should have sufficient scale and big size in the market to succeed. Such scale and size would be acquired by Tenet Healthcare Corp (NYSE:THC) through this recent acquisition which is to be completed by the end of this fiscal year and the United States health overhaul would take full effect from the beginning of next year.
The share prices of Tenet Healthcare Corp (NYSE:THC) had surged by 4.49 percent to close at $43.73 per share for the end of last trading session on Monday. The shares of the company had been trading in the range of $42.47 per share to $46.20 per share during the day, after opening at $44.30 per share. The shares of Tenet Healthcare Corp (NYSE:THC) had recorded 52 week high price level at $49.47 per share and 52 week low price level at $17.24 per share.
Tenet Healthcare Corp (NYSE:THC) had witnessed more than average trading volume at 6.33 million shares on Monday, while the average trading volume for the company is at 1.76 million shares per day. The company presently holds 103.43 million shares outstanding in the market with an institutional ownership at 99 percent of its holdings.
