Ardent Health (ARDT) FY 2025 Conference September 04, 2025 08:45 AM ET Speaker0Good morning, everyone. I'm Steve Baxter, the healthcare services analyst here at Wells Fargo. We're very pleased to have Ardent Health with us. So Ardent is operating health systems across a portfolio of acute care and other sites of care within a six day portfolio. From the company, we have CEO, Marty Bonnick and CFO, Alfred Lumsden.Thanks again for being here. Did you want to make any opening remarks or should we just kind of ...

Tenet Healthcare (THC) FY 2025 Conference September 03, 2025 09:30 AM ET Company ParticipantsWilliam McDowell - VP - IRSaum Sutaria - Chairman & CEOSun Park - EVP & CFOConference Call ParticipantsStephen Baxter - Senior Equity Research AnalystStephen BaxterOkay, perfect. All right. Good morning, everyone. Thanks for joining us. I'm Steve Baxter, the Healthcare Services Analyst here at Wells Fargo. We're very pleased to have Tenet Healthcare with us this morning. As you likely know, Tenet operates a network ...

Summary of Tenet Healthcare Conference Call Company Overview - **Company**: Tenet Healthcare (THC) - **Industry**: Healthcare Facilities and Managed Care - **Event**: BOA Healthcare Conference on May 13, 2025 Key Points Growth and Strategic Focus - Tenet Healthcare is experiencing strong momentum and is focused on growth, capital deployment, and expansion opportunities in accretive service lines [3][4] - The company is prioritizing cost control and has a healthy pipeline of Ambulatory Surgery Center (ASC) opportunities [4] Ambulatory Surgery Center (ASC) Insights - The ASC business has significant growth potential driven by demographic trends and innovation in surgical procedures [7][8] - Tenet is actively migrating to higher acuity procedures in ASCs, which are more competitive and cost-effective compared to traditional inpatient settings [10][12] - Q1 results showed flat same-store volumes, but double-digit growth in high acuity procedures, indicating a successful strategy in managing acuity levels [12][13] Financial Performance - Tenet has consistently outperformed revenue growth guidance, achieving a growth algorithm of 3% to 6% in top-line revenue [14] - The company reported a 9% growth in Q1, with expectations for sustainable growth rates moving forward [18][19] Market Dynamics - The ASC market is not becoming more competitive in terms of asset acquisition, but the landscape is changing with consolidation among Management Services Organizations (MSOs) [22][23] - The company is well-positioned to adapt to changes in the industry, particularly with the consolidation of MSOs and the entry of large medical distributors [23] Regulatory Environment - Recent proposed reconciliation bills in Washington were perceived as less severe than expected, with strong voter sentiment against Medicaid cuts [24][25] - Tenet is focused on maintaining stable relationships with health plans despite policy uncertainties, emphasizing long-term partnerships [51][52] Hospital Business Performance - The hospital segment is seeing strong demand, with a focus on high acuity and specialty care, particularly in rural areas [32][33] - Q1 admissions increased by 2.9%, and the company is managing growth without excessive cost increases [34] Labor and Cost Management - The labor environment is stable, with manageable wage growth and retention metrics [37][38] - Contract labor usage is low, reflecting a stable workforce and effective management of staffing needs [40][41] Pricing and Revenue Outlook - Tenet is experiencing 3% to 5% rate increases from commercial plans, with good visibility into future contracts [45][46] - The company is confident in its ability to negotiate favorable pricing due to its integrated service offerings [47] Capital Deployment and Free Cash Flow - Tenet's balance sheet is strong, with reduced leverage and increased free cash flow, allowing for disciplined capital deployment in share repurchases and M&A [57][58] Additional Insights - The company is not focused on returning to pre-COVID levels but is instead prioritizing current service line priorities and market opportunities [31][32] - Tenet's strategy includes a focus on high acuity procedures and maintaining operational discipline to manage costs effectively [34][36]