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Shares of Tenet Healthcare Corp. THC, +0.33% were indicated down more than 1% in Tuesday’s premarket, after the health care services company said it will no longer pursue a spinoff of its Conifer Health Solutions patient payments subsidiary. The company said it made its decision to have Conifer remain part of Tenet after a review by the company’s board of directors and financial and legal advisors, and include expectations that Conifer can deliver fiscal 2022 revenue growth in the mid- to high-single-digit percentage range and have a “strong” margin and cash flow profile.
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