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Tenet bid for Philly hospitals prevails

Article Abstract:

Tenet Healthcare of Santa Barbara, CA, has offered to acquire eight bankrupt hospitals from the troubled Allegheny Health, Education and Research Foundation for $345 million, pending permission from a bankrupty judge. Tenet Healthcare will funnel over $50 million per year for a certain number of years to keep up charity care and upgrade the facilities. Moody's Investors Service expressed optimism about Tenet Healthcare because of its history and dynamic financial status which means it is probably better off than its rivals. Vanguard Corp. of Nashville, TN, was trying to acquire the same properties for $460 million but decided to back off.

Comment:

Has offered to buy eight bankrupt hospitals from Allegheny Health, Education and Research Foundation for $345 million

Tenet Healthcare Corp.

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A deal behind every door

Article Abstract:

Brooksville, FL-based Regional Healthcare chose Naples, FL-based Health Management Associates to be its new owner. With $100 million in debt, Regional Healthcare relied on Tom Singleton to be its chief negotiator among the four buyers, Health Management Associates, Santa Barbara, CA-based Tenet Healthcare, Orlando, FL-based Adventist Health System and Brentwood, TN-based Community Healthcare Systems. Singleton, who invited the four buyers to rural Brooksville Regional Hospital, works for Quorom Health Resources, the former manager of Regional Health.

Comment:

Is chosen by Brooksville, FL-based Regional Healthcare to be the latter's new owner

Asset sales & divestitures, General Medical and Surgical Hospitals, General Medical Hospitals, Health Management Associates Inc., Regional Healthcare Inc.

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