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Tenet Healthcare Corp

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BUSINESS
July 11, 1997 | (Dow Jones)
A Nashville health-care real estate investment trust said Thursday that it has acquired a Fountain Valley ancillary hospital facility operated by Tenet Healthcare Corp. for about $15 million. Healthcare Realty Trust Inc. said the facility encompasses physician practices and hospital services and support including imaging, outpatient surgery, radiation-oncology and orthopedic medicine.
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BUSINESS
November 4, 2009 | Times Wire Reports
Tenet Healthcare Corp. raised its profit outlook on tighter cost controls even as the weak economy meant more people were unable to pay their hospital bills in the third quarter. Tenet reported a loss of $3 million, or 1 cent a share, in the quarter ended Sept. 30. Analysts had forecast a loss of 2 cents a share, according to Bloomberg data. A year earlier, the Dallas-based hospital operator posted a profit of $104 million, or 22 cents, boosted by investment gains. Revenue increased 5.7% to $2.26 billion as hospital admissions were stable even in the weak economy, while outpatient visits gained 4.8%.
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BUSINESS
August 18, 2007 | From Times Wire Services
Tenet Healthcare Corp. said it reached a contract agreement with the California Nurses Assn. for staff at nine Tenet hospitals in California. The Dallas-based hospital operator said the agreement was subject to a ratification vote by the nurses. Wages would increase 4% after a year and an additional 2.5% six months after the first raise.
BUSINESS
February 25, 2009 | TIMES WIRE REPORTS
Hospital operator Tenet Healthcare Corp. reported a $33-million fourth-quarter loss, mainly because of a charge on the sale of two hospitals. Dallas-based Tenet said the loss was 7 cents a share on $2.2 billion in revenue. That compares with a loss of $75 million, or 16 cents, on $2.1 billion in revenue for the same quarter in 2007. In January, Tenet said it expected a $5-million profit in the fourth quarter. But after making that forecast, the company announced the sale of USC University Hospital and USC Kenneth Norris Jr. Cancer Hospital to the university.
BUSINESS
November 6, 2007
Tenet Healthcare Corp., the second-biggest U.S. hospital operator, reached wage agreements with the Service Employees International Union on contracts in California, Florida and with the national organization. The terms for separate contracts cover 5,700 SEIU union members at 14 hospitals in California and 2,300 at three institutions in Florida, the Dallas-based company said. The California contracts expire March 11, 2011, and those in Florida expire on different dates in 2010.
BUSINESS
May 24, 1995 | Times Staff and Wire Reports
Tenet May Sell Asian Operations: The Santa Monica-based hospital chain said it is in talks with Parkway Holdings, a Singapore-based conglomerate. Tenet Healthcare Corp., formerly known as National Medical Enterprises, would not discuss the potential price. Tenet's Asian holdings include two hospitals in Singapore, along with a 40% stake in a 554-bed hospital under construction in Bangkok, Thailand, and a 30% share of a 375-bed hospital in Malaysia. Tenet shares rose 25 cents to $16.
BUSINESS
September 29, 2006
* Microsoft Corp. said its new Zune music player will cost about the same as an iPod. The company will charge $249.99 for the device, signaling that it isn't planning to spark a major price war to gain market share. * Tenet Healthcare Corp. agreed to provide employee training and submit to ethics monitoring required by its June settlement of claims that it defrauded the U.S. government. The agreement allows Dallas-based Tenet to continue participating in federal programs that pay for
BUSINESS
February 25, 1998 | Bloomberg News
Tenet Healthcare Corp. agreed to buy St. Louis University Hospital for $300 million. Santa Barbara-based Tenet, the second-largest U.S. for-profit hospital chain, said it will also invest $100 million in a venture to develop new programs with the university and that it will spend $50 million over five years to maintain St. Louis as a teaching center. Tenet said it expects to assume ownership of the hospital, its fifth in the area, on Saturday. Tenet shares fell 19 cents to close at $36.
BUSINESS
October 25, 2005 | From Associated Press
Tenet Healthcare Corp. said Monday that it would spend hundreds of millions of dollars to build a new healthcare system in New Orleans. "We were a major healthcare provider here before the hurricane. We still are after the hurricane," Chief Operating Officer Reynold J. Jennings said from New Orleans, referring to Hurricane Katrina, which slammed into the Gulf Coast on Aug. 29. Tenet had been the largest private hospital company in the region.
BUSINESS
April 15, 2008 | Daniel Costello, Times Staff Writer
Tenet Healthcare Corp. has agreed to sell to the University of Southern California both USC University Hospital and USC Norris Cancer Hospital, it was announced Monday. Financial terms were not disclosed. The facilities near downtown Los Angeles are staffed by USC medical personnel and include a teaching facility. The university owns the land and Dallas-based Tenet manages the buildings and equipment.
BUSINESS
November 6, 2007
Tenet Healthcare Corp., the second-biggest U.S. hospital operator, reached wage agreements with the Service Employees International Union on contracts in California, Florida and with the national organization. The terms for separate contracts cover 5,700 SEIU union members at 14 hospitals in California and 2,300 at three institutions in Florida, the Dallas-based company said. The California contracts expire March 11, 2011, and those in Florida expire on different dates in 2010.
BUSINESS
September 19, 2007 | Lisa Girion, Times Staff Writer
The U.S. government said Tuesday that it had sued Tenet Healthcare Corp.'s former top lawyer for billing Medicare for millions of dollars for hospital care that she allegedly knew the company was not entitled to collect.
BUSINESS
August 18, 2007 | From Times Wire Services
Tenet Healthcare Corp. said it reached a contract agreement with the California Nurses Assn. for staff at nine Tenet hospitals in California. The Dallas-based hospital operator said the agreement was subject to a ratification vote by the nurses. Wages would increase 4% after a year and an additional 2.5% six months after the first raise.
BUSINESS
May 25, 2007 | From Times Wire Services
The Securities and Exchange Commission last month granted Tenet Healthcare Corp. an unusual break: The company will be given protection against shareholder lawsuits even though it is being punished for fraud. The SEC had accused the largest publicly traded hospital chain of deceiving investors by failing to disclose a scheme to boost earnings. Tenet, which neither admitted nor denied the allegations, agreed to pay $10 million to settle.
BUSINESS
April 3, 2007 | Daniel Yi, Times Staff Writer
Tenet Healthcare Corp. agreed to pay a $10-million penalty to settle Securities and Exchange Commission charges that it inflated its earnings by fraudulently billing the Medicare system, company and federal officials announced Monday. The accord closes the book on government actions against the nation's second-largest hospital operator related to its alleged Medicare fraud, which took place while it was based in Santa Barbara.
BUSINESS
February 28, 2007 | From the Associated Press
Hospital operator Tenet Healthcare Corp. said its fourth-quarter loss widened on impairment and restructuring charges. Its shares fell nearly 8%. The Dallas-based company reported a net loss of $386 million, or 82 cents a share, compared with a loss of $286 million, or 61 cents, a year earlier. Tenet reported a loss from continuing operations of $393 million, or 83 cents a share, for the latest quarter. Results include impairment and restructuring charges of 52 cents a share.
BUSINESS
January 24, 2007
* Kraft Foods Inc. said it had agreed to sell the 114-year-old hot-cereal brand Cream of Wheat to B&G Foods Inc. in a $200-million deal. * Gum and candy maker Wm. Wrigley Jr. Co. said it was moving into chocolate, announcing the acquisition of an 80% stake in Russian premium-chocolate company A. Korkunov for $300 million. * Tenet Healthcare Corp. said it would sell Graduate Hospital in Philadelphia to the University of Pennsylvania Health System for an undisclosed amount.
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