Tenet Healthcare Corp. has filed suit against Nashville-based Community Health Systems Inc., accusing the company of padding its revenue numbers by regularly admitting patients who should be seen on an out-patient basis. The suit, filed in U.S. District Court in Texas, alleges that CHS has offered Tenet stockholders $6 a share, including $1 in CHS stock, in a takeover bid. The offer is said to be inadequate because of CHS’s misleading financial statements. CHS is the parent of Birmingham’s Trinity Medical Center. Tenet is the parent of Birmingham’s Brookwood Medical Center, competitors in the Birmingham market.
Source: Birmingham News
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