Tenet Healthcare's Irresistible Rise
The hospital chain's resurgent stock price has delighted investors and scuttled a shareholder revolt. Can CEO Jeffrey Barbakow keep it up?
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By David Shook
A few years back, Tenet Healthcare was dealing with onerous Medicare payment cuts mandated by Congress as part of a short-lived effort to maintain a federal budget surplus. At the same time, a shareholder activist, unhappy with Tenet's (THC ) stagnant stock price, was seeking to oust Chief Executive Jeffrey C. Barbakow.