The combined network of Addison, Texas-based United Surgical Partners International and Dallas-based Tenet Healthcare includes more than 50 health systems, 4,000 physicians and 265 short-stay surgical facilities.
Here are 10 things to know.
1. The Tenet and USPI merger in 2015 created the largest provider of ambulatory surgery in the U.S. Tenet initially owned 50.1 percent of the joint venture and increased its ownership to 80 percent in 2017. It plans to take full ownership by 2020.
2. As Tenet's ambulatory subsidiary, USPI saw net operating revenues increase 14 percent to $545 million for the fourth quarter of 2017. However, Tenet overall reported $230 million in net losses.
3. USPI generated about 10 percent of Tenet's net operating revenues for fiscal year 2017. USPI reported a 6.9 percent increase in same-facility systemwide revenue for the fourth quarter of 2017. Same-facility cases also increased, by 4.6 percent, while adjusted EBITDA jumped 21.9 percent from the fourth quarter of 2016 to reach $223 million.
4. Despite Hurricanes Harvey and Irma lowering Tenet's case growth by 210 basis points for the third quarter of 2017, USPI reported a 4.5 percent increase in net operating revenues. The ambulatory care segment's net operating revenues reached $468 million.
5. Tenet plans to shift its focus toward building its health networks and outpatient care services, Forbes reported. During a March earnings call, CEO Ronald Rittenmeyer said its hospital divestitures have put it on track to raise over $700 million that could be used to further increase ownership in USPI.
6. Mr. Rittenmeyer was named interim CEO of Tenet in October 2017, following the departure of former CEO Trevor Fetter. Tenet has since made significant changes to its corporate governance, including elimination of the board of directors' executive committee and termination of the poison pill.
7. William Wilcox has served as CEO of USPI since 2004. Before joining USPI in 1998 as president and director, he served as CEO of United Dental Care and held various roles at Hospital Corporation of America.
8. In July 2017, USPI signed an agreement to use Casetabs' cloud-based surgery coordination application at its ASCs. The technology is designed to replace email and text chains, faxing and whiteboards as a hub for case-related communication and collaboration, digital surgery boards and physician office connectivity.
9. USPI and New York City-based Hospital for Special Surgery formed a joint partnership in January to build an orthopedic care center in West Palm Beach, Fla. USPI also formed a joint venture with Nashville, Tenn.-based Saint Thomas Health in October 2017 with plans to build a $16 million surgery center.
10. In April, USPI will become the anchor tenant of a three-story medical office building in Plano, Texas, on the campus of Baylor Scott & White Medical Center. USPI teamed up with Baylor Scott & White in August 2017 to purchase majority ownership in Tyler-based Texas Spine & Joint Hospital.