Tenet Healthcare Corp (THC) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2011

Exhibit 99.1

Tenet Reports Fourth Quarter 2011 Results

4.6 Percent Increase in Adjusted EBITDA

5.4 Percent Increase in Net Operating Revenue

Company Raises 2012 Outlook for Adjusted EBITDA

DALLAS — February 28, 2012 —

In the fourth quarter of 2011, the Company reported a net loss attributable to common shareholders of $76 million, or a loss of $0.17 per diluted share, compared to income of $74 million, or $0.14 per diluted share, in the fourth quarter of 2010. These results included a $117 million pre-tax loss from early extinguishment of debt incurred in relation to Tenet’s strategy to extend debt maturities and reduce future interest expense. Excluding impairment, litigation and investigation costs, loss from early extinguishment of debt, and valuation tax adjustments from both fourth quarters, income from continuing operations, net of tax, was $42 million, or $0.10 per diluted share, compared to $43 million, or $0.08 per diluted share, in the fourth quarter of 2010.

“We recorded our eighth consecutive year of growth in Adjusted EBITDA which grew to $1.145 billion in 2011, a 9.0 percent increase over 2010,” said Trevor Fetter, president and chief executive officer. “The growth would have been even stronger had we been able to close some of the favorable payer settlements we have been working on for a number of months. Because the settlements remain likely, we are raising our 2012 Outlook for Adjusted EBITDA to a new range of $1.225 billion to $1.350 billion. We also recorded our fifth consecutive quarter of growth in adjusted admissions which grew by 1.3 percent. The favorable growth in patient volumes, combined with strong pricing growth, enabled us to achieve a 5.4 percent increase in net operating revenues in the quarter.”

Discussion of Results (Percentage changes compare Q4’11 to Q4’10, unless otherwise noted.)

Adjusted admissions increased by 1.3 percent. Admissions increased by 0.3 percent, and paying admissions were flat. Emergency Departments visits increased by 3.1 percent, and there was a 3.3 percent increase in admissions through our Emergency Departments. Total surgeries increased by 3.2 percent with inpatient surgeries declining by 3.1 percent and outpatient surgeries increasing by 7.6 percent.

Net operating revenues were $2.226 billion, an increase of $115 million, or 5.4 percent, compared to net operating revenues of $2.111 billion in the fourth quarter of 2010. As a result of the Company’s early adoption of a new accounting standard, net operating revenues are now reported after a deduction for the provision for doubtful accounts. Under the Company’s prior reporting standard, net operating revenues would have been $2.411 billion, an increase of 4.8 percent, compared to $2.301 billion in the fourth quarter of 2010.

Net patient revenue per adjusted admission was $11,633, an increase of 2.3 percent, compared to $11,370 in the fourth quarter of 2010. This pricing increase reflects improved terms in our contracts with commercial managed care payers, partially offset by an adverse shift in payer mix.

Selected operating expenses, which is defined as the sum of salaries, wages and benefits, supplies and other operating expenses, increased by 6.5 percent on a per adjusted patient day basis in the fourth quarter of 2011. The increase is primarily due to annual merit increases, an increase in the number of physicians we employ, and higher health benefit costs for our employees. The comparison to last year’s fourth quarter was made more challenging by a $10 million favorable adjustment in that quarter related to the estimated recovery of payroll taxes paid in prior years on behalf of medical residents. Selected operating expenses were also adversely impacted by lower