Tenet Healthcare Corp. is investing $4.3 billion, including debt, to acquire a competitor whose crown jewels include seven hospitals in San Antonio, and two in Harlingen and Brownsville. One premise of the investment is that Obamacare will lead to coverage for most uninsured in Texas, as well as the rest of the country. Almost 1 in 3 working-age adults in Texas has no insurance, so the upside is huge. The Tenet deal, expected to close in 2013, offers a counterpoint to continuing criticism of the Affordable Care Act and setbacks in implementing the law. Last week, the White House delayed the employer mandate for another year, prompting one Republican leader to warn of a looming "train wreck."
