As the readers of THCB know, Tenet hasn’t had a whole lot of good news lately. But the rot maybe stopping. Blue Cross of California has been after Tenet for unnecessary surgery in Modesto, assuming that there was the same over-use of surgery as was going on in the Tenet hospital in Redding. However, a new independent study shows that the controversial surgeries were necessary.

Full disclosure: I’m still long Tenet stock waiting for the bounce that hasn’t really come yet! Meanwhile stock analysts are having trouble valuing Tenet stock particularly as Medicare has not yet handed down the fines for the Redding fraud.