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Tenet moves out of Mississippi

NEWS IN BRIEF — Posted May 8, 2006

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Tenet Healthcare Corp. has announced plans to sell its only hospital in Mississippi, saying the devastating impact of last year's Hurricane Katrina has caused it to re-evaluate its operations in the area. The Dallas-based hospital operator said on April 17 that it had reached an agreement to sell the 189-bed Gulf Coast Medical Center in Biloxi, Miss., to Health Management Associates Inc.

Proceeds from the sale, to be completed by May 31, were expected to total about $16 million.

Tenet said it decided to sell the hospital to HMA because it wanted to turn it over to an operator that has a significant presence in the area.

In addition to Gulf Coast Medical Center, Tenet operated five hospitals in Louisiana that were affected by the destructive late-summer storm.

The company posted a $408 million third-quarter loss last November, blaming much of the shortfall on the effects of the hurricane.

Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/05/08/bibf0508.htm.

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