Business
Physician buys Tenet hospital
NEWS IN BRIEF — Posted Dec. 6, 2004
Tenet Healthcare Corp. has agreed to sell a 434-bed hospital in Los Angeles to a group led by a physician.
The hospital chain announced Nov. 10 that it had reached an agreement to sell Hollywood Presbyterian Medical Center to the CHA Medical Group, which owns and operates four acute care hospitals and several other facilities in Korea as well as an infertility medical center in Los Angeles. The group is led by Kwang Yul Cha, MD, a fertility specialist.
Tenet, which said net proceeds from the deal should be about $69 million, said the sale was subject to regulatory approval and was expected to be completed the end of the year.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/12/06/bibf1206.htm.
