Tenet CEO Sees ‘Abundant’ Market for Hospital Acquisition

Hospital operators face a buyer’s market for acquisitions as weaker companies struggle with higher costs and a decades-long drop in admissions, the chief executive officer of Tenet Healthcare Corp. said.

CEO Trevor Fetter, head of the nation’s third-biggest hospital company, predicted a wave of smaller health systems closing operations or curtailing services in an interview at Bloomberg headquarters in New York. Tenet itself is looking at targets in Texas, California and Florida where the Dallas-based company already has a strong presence, he said.