Business Update

Tenet reaches partial settlement with IRS, expects to make $80 million payment in Q4 2006

Published in Medical Verdicts and Law Weekly, December 28th, 2006

Tenet Healthcare Corporation (THC) announced that it has reached a settlement with the Internal Revenue Service (IRS) to resolve certain disputed issues in connection with the audit of its tax returns for the fiscal years 1995, 1996 and 1997.

As part of the settlement, the company said it expects to make a payment in the fourth quarter of 2006 of approximately $80 million representing taxes and interest owed under the settlement.

The company expects the settlement announced will not have a material impact on income from continuing or discontinued operations after taking into account the impact of the deferred tax valuation allowance.

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Source: Medical Verdicts and Law Weekly (2006-12-28)

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