Tenet Healthcare Corp. Sells Off Five More Hospitals

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Subsidiaries of Tenet Healthcare Corp. announced Monday they have completed the sale of five acute care hospitals, including Hollywood Presbyterian Medical Center.


Hollywood Presbyterian has been sold to the CHA Medical Group for nearly $71 million. The sale included a $4 million note from the CHA Medical Group and the liquidation of working capital.


The remaining four hospitals are in Louisiana and Massachusetts: St. Charles General Hospital in New Orleans was sold to Preferred Continuum Care for $11 million; and Saint Vincent Hospital at Worcester Medical Center in Worcester, Mass. and the two-campus MetroWest Medical Center, consisting of Leonard Morse Hospital in Natick and Framingham Union Hospital in Framingham, Mass., were sold for $169 million to a subsidiary of Vanguard Health Systems, Inc.


The five hospitals are among 27 hospitals Tenet announced last year it was divesting. So far, Tenet has divested 18 of the 27 facilities and will do so with four more hospitals in the near future.


Tenet’s stock price was down 1.6 percent to $10.81 Monday morning.

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