On Thursday, Tenet Healthcare Corp (NYSE:THC)’s shares inclined 0.79% to $58.95.
Tenet Healthcare Corporation (THC) has accomplished its formerly declared joint venture transaction with Welsh, Carson, Anderson & Stowe that combines the short-stay surgery and imaging center assets of Tenet and United Surgical Partners International (“USPI”) to create the leading U.S. short-stay surgery platform.
As contemplated in the original agreement declared on March 23, 2015, Tenet contributed its interest in 49 ambulatory surgery centers and 20 imaging centers to the joint venture and refinanced about $1.5 billion of existing USPI debt, which will be allocated to the joint venture through an intercompany loan. Tenet also made an about $404 million payment to pre-existing USPI shareholders to align the respective valuations of the assets contributed to the joint venture. Tenet owns 50.1% of the new USPI and will consolidate USPI’s financial results. Welsh Carson and the other existing shareholders in USPI own the remaining 49.9%. A pre-determined put-call structure provides a path to full ownership of USPI by Tenet over the next five years. Bill Wilcox will continue to lead USPI as chief executive officer and Brett Brodnax, president and chief development officer of USPI, will lead the company’s strategy and growth efforts. Kyle Burtnett, senior vice president for outpatient services at Tenet, will join USPI as president of ambulatory services and take on the additional role of chief integration officer for the new venture.
Tenet Healthcare Corporation, a healthcare services company, primarily operates acute care hospitals and related healthcare facilities in the United States. It operates through two segments, Hospital Operations and Other, and Conifer. The company’s general hospitals offer acute care services, operating and recovery rooms, radiology services, respiratory therapy services, clinical laboratories, and pharmacies.
JinkoSolar Holding Co., Ltd. (NYSE:JKS)’s shares gained 0.08% to $24.47.
JinkoSolar Holding Co., Ltd. (JKS) a global leader in the solar PV industry, declared that its wholly owned partner, JinkoSolar (U.S.) INC., (“JinkoSolar US”), has signed amendments to the credit agreement with Wells Fargo Bank, National Association (“Wells Fargo”). Under the new terms of the credit agreement, JinkoSolar US’s credit limit will be raised to $40 million from $20 million.
JinkoSolar Holding Co., Ltd., together with its auxiliaries, engages in the design, development, production, and marketing of photovoltaic products in the People’s Republic of China and internationally. The company operates through two segments, Manufacturing and Solar Power Projects. It offers solar modules, solar cells, silicon ingots and silicon wafers, and recovered silicon materials.
At the end of Thursday’s trade, SCANA Corporation (NYSE:SCG)‘s shares declined -1.96% to $52.42.
SCANA Corporation (SCG) will release its second quarter earnings on Thursday, July 30, 2015, before the market opens. SCANA’s management will discuss those results in a conference call with analysts.
SCANA Corporation, through its auxiliaries, engages in the generation, transmission, distribution, and sale of electricity to retail and wholesale customers in South Carolina. It owns nuclear, coal, hydro, natural gas and oil, and biomass generating facilities.
Solaredge Technologies Inc (NASDAQ:SEDG), ended its Thursday’s trading session with 1.56% gain, and closed at $27.91.
SolarEdge Technologies, Inc. (SEDG), a global leader in PV inverters, power optimizers, and module-level monitoring services, and Sunrun, the largest dedicated residential solar company in the U.S., have formed a planned supply relationship. As part of the agreement, SolarEdge will serve as Sunrun’s preferred supplier of optimized inverter solutions accessible for use in Sunrun’s home solar installations and through its distribution business, AEE Solar.
SolarEdge’s optimized inverters enable Sunrun customers to benefit from more flexible system designs, improved rooftop safety, and raised home energy production levels through features like SafeDC, integrated rapid shutdown, cellular connectivity and storage readiness. The technology also provides homeowners with remote troubleshooting and access to real-time performance data through the SolarEdge cloud-based monitoring platform.
SolarEdge Technologies, Inc. manufactures and supplies DC optimized inverter systems for solar PV installations. The company’s DC optimized inverter system comprises of power optimizers, inverters, and cloud-based monitoring software. Its products are used in a range of solar market segments, counting residential solar installations, and commercial and small utility-scale solar installations. The company primarily sells its products directly to solar installers, distributors, wholesalers, EPCs, and PV module manufacturers worldwide. SolarEdge Technologies, Inc. was founded in 2006 and is headquartered in Hod Hasharon, Israel.
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