Tenet Sells Three Area Hospitals

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Tenet Healthcare Corp. said Monday it has sold three of its Southern California hospitals to Prime Healthcare Management Services Inc.


The Dallas-based Tenet said it sold the Encino campus of its Encino-Tarzana Regional Medical Center, a 151-bed acute care hospital, to Victorville-based Prime Healthcare. It also sold its 167-bed Garden Grove Hospital and Medical Center and 64-bed San Dimas Community Hospital. All were for undisclosed sums.


Tenet said Prime Healthcare will continue to operate the facilities as acute care hospitals. Emergency rooms will continue running and all employees who are in good standing will stay on.


Tenet said the Tarzana campus of its Encino-Tarzana medical center is not a part of this transaction. Tenant does not own that hospital but operates it. Tenet and the owner, Long Beach-based real estate investment trust HCP Inc., are in the final stages of talks with an unnamed buyer. The two-campus medical center has been for sale for more than four years.


The transactions are subject to approvals and are expected to be completed in about 30 days.

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