August 26, 2003 |
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.
March 17, 2004 |
Tenet Healthcare Corp. Chief Executive Trevor Fetter on Tuesday sought to dispel any idea that the nation's second-largest hospital chain faced a liquidity crunch and said its financial problems could be repaired. Tenet's stock has slid significantly in the last week after it cut a new deal with lenders that required the Santa Barbara-based company to pledge capital stock in its hospital subsidiaries and slashed its credit line to $500 million in cash loans.
August 5, 2003 |
Tenet Healthcare Corp., the nation's second-largest hospital operator, said Monday that it was strengthening its compliance team. The Santa Barbara-based company, which has 40 hospitals and 35,000 employees in California, has been the subject of several regulatory investigations into its billing and recruiting practices Tenet named Cheryl Wagonhurst, 43, its chief compliance officer. She will oversee a 40-person team that will include clinicians, accountants and legal experts.
December 11, 2004 |
Tenet Healthcare Corp., the nation's second-largest for-profit hospital chain, will complete its headquarters move to Dallas on Jan. 3, the company said Friday. Chief Executive Trevor Fetter and other senior executives will move next month. Operations at the Santa Barbara office will wind down until it closes June 30, the company said. Fewer than 30 of Tenet's 115 employees in Santa Barbara will make the move to Dallas.
January 15, 1999 |
Tenet Healthcare Corp., the second-largest U.S. hospital operator, said Michael H. Focht Sr. will retire as president and chief operating officer by May 31, and his job will be divided between two executive vice presidents. Focht, 56, will remain on Tenet's board. Trevor Fetter, 39, executive vice president and chief financial officer, and Thomas B. Mackey, 50, executive vice president for operations in the Western U.S., will share responsibilities within the office of president.