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Wednesday, February 11, 2009 , Updated

Dallas-based Tenet to sell USC University Hospital

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by PegNews wire

The dangerously high-risk lifestyle decisions of some of the university's former athletes allegedly forced the sale

Photo not provided by Tenet, USC

The dangerously high-risk lifestyle decisions of some of the university's former athletes allegedly forced the sale

DALLAS — Tenet Healthcare Corporation announced today that two of its subsidiaries have signed a definitive agreement to sell USC University Hospital and USC Kenneth Norris Jr. Cancer Hospital to the University of Southern California. The transaction is expected to generate cash proceeds of $275 million from the sale of property and equipment.

“We’re pleased that our agreement to move forward with the sale of USC University Hospital and the Norris Cancer Hospital will bring enhanced clarity to the future of the hospitals and their fine staff,” said Trevor Fetter, Tenet’s president and chief executive officer. “Tenet has been pleased to develop and operate these facilities as part of a first-rate academic medical center that is well positioned for the future.”

Under the agreement, USC has committed to offer employment to all or substantially all current employees who are in good standing. The transaction is subject to conditions and regulatory approvals that must be satisfied prior to closing. The closing, which is not conditional on financing, is targeted for completion by March 31, 2009. As part of the transaction, Tenet and USC will drop all litigation pending between them.

Source: Tenet Healthcare


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bundle_images.img/site/button_listen.gif<class 'ellington.texasgigs.templatetags.bundle.BundleImage'>: <ellington.texasgigs.templatetags.bundle.BundleImage object at 0x78813d0>
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bundles_addedSet of 7 scaling_background_x_repeat
content_objectnews.story
externals
externals.accuweatherTrue
externals.radiotimeTrue
externals.newsroomTrue
externals.satisfactionFalse
externals.omnitureTrue
externals.pegasusTrue
externals.google_analyticsTrue
externals.google_adsTrue
externals.quantcastTrue
first_bylinestaff.staffmember
gmaps_api_keyABQIAAAAIj0IQagPwLTE-M-cwppq3hToP_obvUnk1-QdEvh-QHyjsAgm6BSGKSUs_e3UKk_SOxELNBIKXyfjOQ
is_future_datedFalse
LANGUAGE_BIDIFalse
LANGUAGE_CODEen-us
LANGUAGESLong tuple-- 51 items -- e.g. LANGUAGES.0=>group of 2 items
logo_usernameJ&#8203;a&#8203;n&#8203;e&#8203; &#8203;D&#8203;o&#8203;e
logo_username_sizenormal
media_urlhttp://media.pegasusnews.com/
messagesEmpty List
now2009-11-26 21:27:47.340054
omniture_suitepegnewsprod
partner_mast<type 'NoneType'>: None
perms<class 'django.core.context_processors.PermWrapper'>: <django.core.context_processors.PermWrapper object at 0x7842410>
requestrequest object
request_path/news/2009/feb/11/dallas-based-tenet-sell-usc-university-hospital/
sitesites.site
storynews.story
user<class 'django.contrib.auth.models.AnonymousUser'>: AnonymousUser
Quantcast