Community Health makes bid for Tenet

In a sign of how the health-care overhaul is reshaping the economics of medicine, Community Health Systems Inc. made a $3.3 billion unsolicited offer for smaller rival Tenet Healthcare Corp. in a deal that would create the country's largest hospital operator as measured by number of facilities.

A tie-up of Community Health and Tenet would create a giant new company with about $22 billion in revenue from 176 hospitals in 30 states and a total of 32,830 licensed beds.

Tenet confirmed receipt of the unsolicited offer and noted that it was identical to Community Health's offer made in November.