Business
Tenet sells four hospitals
NEWS IN BRIEF — Posted Aug. 9, 2004
Tenet Healthcare Corp. has agreed to sell four Los Angeles-area hospitals for about $100 million as part of its ongoing restructuring effort.
The Santa Barbara, Calif.-based chain announced July 19 that it had reached an agreement to sell Garfield Medical Center, Monterey Park Hospital, Greater El Monte Community Hospital and Whittier Hospital Medical Center to AHMC Inc., which operates two other hospitals in California. AHMC is owned by a physician, Jonathan Wu, MD, who also serves as the company's chair.
The four hospitals are among 27 that Tenet announced it was shedding in January as part of a major restructuring and corporate overhaul aimed at resuscitating the company after more than a year of legal and financial woes.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/08/09/bibf0809.htm.
