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Subsequent Events | 9 Months Ended
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Sep. 30, 2025
Subsequent Events [Abstract] |
Subsequent Events | 14. SUBSEQUENT EVENTS The Company has evaluated all material events occurring subsequent to the balance sheet date for events requiring disclosure or recognition in the condensed consolidated financial statements. On September 10, 2025, the Company’s Board of Directors announced the appointment of Kevin J. Hammons as Interim Chief Executive Officer of the Company, effective October 1, 2025, replacing Tim L. Hingtgen who retired effective September 30, 2025. As disclosed in Note 12 - Segment Information, the chief executive officer is the Company’s CODM and the Company’s segment reporting is based on the internal financial information regularly reviewed by the CODM. Tim L. Hingtgen was the CODM during the three months ended September 30, 2025 and Kevin J. Hammons assumed the duties of the CODM beginning October 1, 2025, in connection with his appointment as Interim Chief Executive Officer as described in Note 12 - Segment Information. The Company does not expect the change in the CODM to have a material impact on its determination of reportable segments or significant segment expenses. In connection with the Company’s divestiture of Tennova Healthcare - Cleveland to Hamilton Health Care Systems, Inc., which was completed effective August 1, 2024, as more specifically described in Note 3 - Acquisitions and Divestitures, the Company received additional cash consideration of approximately $91 million in October 2025 as a result of modifications to applicable supplemental reimbursement programs as more specifically provided in the asset purchase agreement underlying the transaction. Such amount did not qualify for recognition during the three months ended September 30, 2025 and is expected to be recognized as impairment (gain) loss on sale of businesses in the Company’s condensed consolidated statements of income (loss) during the three months ending December 31, 2025. Additional cash consideration may be received in one or more future periods or a portion of the consideration received may be returned to the buyer subject to periodic reconciliations as set forth in the asset purchase agreement.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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