Jeb Bush joins Tenet board
Posted May 28, 2007
Tenet Healthcare, a for-profit hospital company whose earnings are improving after years digging out from financial and legal troubles, in May announced that former Florida Gov. Jeb Bush has joined its board.
Bush does not have an official stated task with Tenet. But analysts expect him to help the company with strategies for improving its hospitals in Florida, which have lagged while holdings in other states have begun turning around following company struggles that included four straight money-losing years.
Part of the company's problem was caused by investigations looking into charges the company overbilled Medicare, which resulted in Tenet paying a $900 million settlement last year. The company did not admit any wrongdoing.
Tenet reported a 7% increase in earnings for the first three months of 2007, to $75 million from $70 million. Revenue rose 3% to $2.3 billion.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/05/28/bibf0528.htm.