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BUSINESS
August 26, 2003 | Ronald D. White, Times Staff Writer
Tenet Healthcare Corp. announced on Monday a $550-million deal to sell five hospitals, underscoring the company's departure from an aggressive growth strategy. Less than a year ago, Santa Barbara-based Tenet was a finalist to buy a 14-hospital chain based in Kansas City, Mo., an acquisition that would have made Tenet the dominant player in a prime Midwest market. Now, Tenet plans to sell 12 hospitals and close two others by year's end to pare debt. The sale announced Monday -- to Naples, Fla.
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BUSINESS
August 26, 2003 | Ronald D. White, Times Staff Writer
Tenet Healthcare Corp. announced on Monday a $550-million deal to sell five hospitals, underscoring the company's departure from an aggressive growth strategy. Less than a year ago, Santa Barbara-based Tenet was a finalist to buy a 14-hospital chain based in Kansas City, Mo., an acquisition that would have made Tenet the dominant player in a prime Midwest market. Now, Tenet plans to sell 12 hospitals and close two others by year's end to pare debt. The sale announced Monday -- to Naples, Fla.
BUSINESS
August 3, 1988 | United Press International
Health Management Associates Inc., an operator of general and acute care hospitals in nine states, accepted a management-led buyout offer that values the company at $84.1 million. The company said it approved the sweetened offer of $14.75 per share on the recommendation of a special committee of independent directors formed last month to consider the bid.
BUSINESS
November 4, 2003
* The NASD, formerly known as the National Assn. of Securities Dealers, is said to be close to a deal to sell the American Stock Exchange to the stock and option exchange's 864 members, people with knowledge of the matter said. * Bassett Furniture Industries Inc. and other U.S. furniture makers petitioned the Bush administration to levy tariffs of as much as 440% on $1 billion a year of bedroom sets from China. * Tenet Healthcare Corp.
BUSINESS
July 7, 2006 | From Reuters
Tenet Healthcare Corp. said Thursday that its property insurers had paid the company $340 million to settle claims after half a dozen of its hospitals suffered business interruptions caused by Hurricane Katrina. Tenet, the second-biggest hospital company and the chain most devastated by the hurricane, said the deal was one of the first big commercial property insurance settlements on damage from the storm, which battered the Gulf Coast region in August.
BUSINESS
May 12, 2004 | From Bloomberg News
Tenet Healthcare Corp., California's largest hospital chain, and other hospital operators would receive $5 billion more in payments in the year starting Oct. 1 for patients enrolled in Medicare under a proposed rate increase announced Tuesday. Urban hospitals would get an average 4.7% increase and rural hospitals would get an increase of 6%, according to a statement by the U.S. agency that oversees Medicare, the health insurance program for the elderly and disabled.
CALIFORNIA | LOCAL
September 5, 2007 | Susannah Rosenblatt, Times Staff Writer
An impatient Los Angeles County Board of Supervisors rebuked the county health chief Tuesday, contending that he is moving too slowly to transfer employees from the troubled Martin Luther King Jr.-Harbor Hospital. Supervisors authorized county officials to send about 500 letters informing workers of their new assignments but questioned what roughly 750 King-Harbor employees have been doing since the hospital closed Aug. 10 after failing a federal inspection.
BUSINESS
April 18, 2006 | Lisa Girion, Times Staff Writer
A judge on Monday delayed until next month a hearing on whether Tenet Healthcare Corp. will face a third trial on charges that administrators bribed physicians to boost admissions at its San Diego hospital. U.S. District Judge M. James Lorenz declared a mistrial April 4 when jurors deadlocked after more than four months of deliberation. It was the second trial aborted because of a hung jury in the case. U.S. Atty. Carol C.
BUSINESS
October 25, 2001 | Bloomberg News
HCA Inc.'s third-quarter profit rose 47% as the biggest U.S. hospital chain attracted more patients and raised the prices it charges managed-care insurers. Net income rose to $256 million, or 48 cents a share, from $174 million, or 31 cents, a year earlier, the company said. Revenue rose 8.4% to $4.44 billion. Some investors were disappointed that profit only matched analysts' estimates, sending HCA's shares down 5.7%.
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