Tenet Healthcare expands its national footprint by purchasing Charlie Martin’s OrNda Healthcare for $3.2 billion. Although Tenet is already the second-largest public hospital company in the country, this acquisition brings its totals to 126 hospitals in 22 states.
Martin runs OrNda from the time the company changes its name from Republic Health in 1992. He will immediately go on to start a handful of other health care companies with the proceeds — notably Vanguard Healthcare, which Tenet will also acquire, for $4.3 billion in 2013.
In 2009, Martin will start Martin Ventures, an influential investment company that springboards a number of innovative health care companies.