September 17, 2005 |
Tenet Healthcare Corp. had been struggling for more than two years to overcome financial, legal and image problems -- including allegations of unnecessary heart surgeries at a Redding hospital. Then Hurricane Katrina hit. The national hospital chain, which hasn't reported a profit in nearly three years, had six hospitals in the region with $600 million in annual revenue. All of them, damaged by the high winds and water, were closed or taken over by local authorities to house rescue workers.
September 2, 2005 |
Tenet Healthcare Corp. sold a 420-bed Culver City hospital for $27 million after taxes, leaving the company four hospitals shy of its goal to sell 27 overall. A subsidiary, Prospect Medical Holdings Inc., sold the Brotman Medical Center to a group that includes physicians on staff, Dallas-based Tenet said. The company says it's negotiating with potential buyers for the remaining hospitals it wants to sell. Tenet announced the divestiture plan in January 2004.
August 27, 2005 |
Tenet Healthcare Corp., the second-largest U.S. hospital chain, said Friday that it received a notice of default from note holders related to a missed filing deadline. Holders of $139.9 million of Tenet's senior notes delivered the notice asserting that the company failed to file a quarterly report on time with the Securities and Exchange Commission, Tenet said in an SEC filing. Tenet has 90 days to correct the default by filing the second-quarter report, it said.
August 11, 2005 |
A judge has approved Tenet Healthcare Corp.'s proposed settlement of lawsuits brought by uninsured patients who claimed they were overcharged at the company's 114 hospitals. Judge Wendell Mortimer of Los Angeles Superior Court approved the settlement Monday, lawyers for the patients said in a statement. Tenet is to refund amounts paid over certain pricing thresholds, and the company will offer uninsured patients the same rates as managed-care patients for four years.
August 3, 2005 |
Hospital chain Tenet Healthcare Corp. said Tuesday that its second-quarter loss was narrower than Wall Street expected, as surgeries and emergency room visits rose, offsetting a decline in admissions to its hospitals. Tenet -- which moved its headquarters from Santa Barbara in January and has recently sold several hospitals in California -- lost $21 million, or 4 cents a share, in the three months ended June 30, compared with a loss of $426 million, or 91 cents, a year earlier.
CALIFORNIA | LOCAL
June 23, 2005 |
About 400 employees at Tenet Healthcare Systems were evacuated Wednesday after a worker opened an envelope containing a white powder, which was later determined to be harmless, police said. The employee was decontaminated, said Anaheim Police Lt. Joe Vargas. The incident occurred about 10:30 a.m. when the woman opened the envelope at the healthcare provider's bill processing division in the 1500 block of Douglas Street, Vargas said.
May 4, 2005 |
Tenet Healthcare Corp., the second-largest U.S. hospital chain, said its first-quarter loss narrowed to $3 million as expenses for unpaid patient bills declined. The net loss shrank to 1 cent a share from $122 million, or 26 cents a share, a year earlier, when costs from the planned sale of unprofitable hospitals hurt results. Revenue slipped 2.9% to $2.5 billion, Dallas-based Tenet said.
April 28, 2005 |
The federal government intends to sue Tenet Healthcare Corp., its former Chief Executive Jeffrey C. Barbakow and five other former executives over the hospital chain's Medicare billing payments, the company said Wednesday. Tenet, the nation's second-largest hospital chain, abandoned its controversial billing practice in January 2003, a few months after it came to light.
March 11, 2005 |
A judge has dropped two charges in an anti-kickback case against Tenet Healthcare Corp. but kept in place 18 other counts, including conspiracy, related to an alleged scheme by its Alvarado hospital in San Diego to bribe doctors to refer patients, the company said. Prosecutors brought the case to trial last fall. After four months of testimony and deliberation, jurors could not agree on a verdict, and the judge declared a mistrial in February. A second trial is expected to begin in early May.