Tenet Healthcare Corporation 10-K filed Feb 17, 2026

Modified · OVERVIEW

At December 31, 20242025, our Hospital Operations segment was comprised of: (1) 4950 acute care and specialty hospitals, a network of employed physicians, and 135132 outpatient facilities, including urgent care centers (each, a “UCC”), imaging centers, off-campus hospital emergency departments (“EDs”) and micro‐hospitals; and (2) the revenue cycle management and value‐based care services we provide to hospitals, health systems, physician practices, employers and other clients through our Conifer Health Solutions, LLC joint venture (“Conifer JV”). Our Ambulatory Care segment, through our is comprised of the operations of USPI Holding Company, Inc. subsidiary (together with its subsidiaries, “USPI”), which held ownership interests in 518533 ambulatory surgery centers (each, an “ASC”) and 2526 surgical hospitals at December 31, 20242025. Additional information about our reporting segments is provided below; statistical data for the segments can be found in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, of Part II of this report (“MD&A”).