Business
Physicians buy Tenet hospital
NEWS IN BRIEF — Posted Oct. 4, 2004
Tenet Healthcare Corp. has agreed to sell Midway Hospital Medical Center in Los Angeles to a group of physicians, most of whom are on the medical staff of the 225-bed facility.
The physicians' group, Physicians of Midway Inc., will run the hospital as an acute care facility and maintain its emergency department, Tenet said. The sale should be completed after routine regulatory requirements are met.
Tenet expects gross proceeds from the sale to total about $10 million.
Midway Hospital Medical Center was one of 27 hospitals that Santa Barbara, Calif.-based Tenet said it would sell or divest as part of a restructuring effort announced in January.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/10/04/bibf1004.htm.
