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Tenet Reaches Agreement with Glenview Implements Additional Governance Enhancements DALLAS

Key Takeaway: Tenet Reaches Agreement with Glenview Implements Additional Governance Enhancements DALLAS March 26, 2018 Tenet Healthcare Corporation (NYSE: THC) today announced that its Board of Directors has reached an agreement with Glenview Capital Management ( Glenview ) under which Gle

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Tenet Reaches Agreement with Glenview
Implements Additional Governance Enhancements
DALLAS March 26, 2018 Tenet Healthcare Corporation (NYSE: THC) today announced that its Board of Directors has reached
an agreement with Glenview Capital Management ( Glenview ) under which Glenview has withdrawn its proposal to amend the Company s bylaws that would allow shareholders to take action by written consent without a meeting. In addition,
Glenview has agreed to vote its shares in favor of all of the Board s nominees and support all Board recommended proposals at the Company s 2018 Annual Meeting of Shareholders.
As part of the agreement, the Tenet Board is revising the Company s bylaws to further align its corporate governance with best practices, as follows:
Ronald A. Rittenmeyer, executive chairman and CEO, said, We are pleased to have reached this constructive agreement with Glenview, which demonstrates
our ongoing commitment to listening to our shareholders and incorporating their feedback as part of our efforts to strengthen our corporate governance practices. With this agreement in place, we can continue our work on the initiatives we have
underway to position us as a stronger leader in healthcare delivery and create additional shareholder value.
Larry Robbins, Founder and CEO of Glenview, stated, As a long-term shareholder of Tenet and as its largest
investor, we firmly believe in the Company s value creation opportunities and we appreciate steps taken in recent months to enhance Tenet s focus on patient satisfaction, operating efficiency, incentive alignment and corporate governance.
We are pleased that these bylaw amendments will benefit all shareholders by providing greater shareholder safeguards and an improved framework for a continuing constructive dialogue between the Board, senior management and owners.
The full agreement with Glenview will be filed in a Form 8-K with the Securities and Exchange Commission.
About Tenet Healthcare
Tenet Healthcare Corporation is a
diversified healthcare services company with approximately 115,000 employees united around a common mission: to help people live happier, healthier lives. Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners
International, the Company operates general acute care and specialty hospitals, ambulatory surgery centers, urgent care centers and other outpatient facilities in the United States and the United Kingdom. Tenet s Conifer Health Solutions
subsidiary provides technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, physician groups, self-insured organizations and health plans. For more information, please
The terms THC , Tenet Healthcare Corporation , the Company , we , us
or our refer to Tenet Healthcare Corporation or one or more of its subsidiaries or affiliates as applicable.
This release contains
forward-looking statements that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and
often contain words such as expect, assume, anticipate, estimate, intend, plan, believe, seek, see, or will. Forward-looking
statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not
limited to, the factors disclosed under Forward-Looking Statements and Risk Factors in our Form 10-K for the year ended December 31, 2017, and subsequent Form 10-Q filings and other filings with the Securities and Exchange Commission.
Investor Contact Media Contact
Brendan Strong Lesley Bogdanow
469-893-6992 469-893-2640
investorrelations@tenethealth.com mediarelations@tenethealth.com
Last updated: Mar 26, 2018