Business Services Industry
Competition Not Over for Philadelphia Hospital Group.
Knight Ridder/Tribune Business News, October, 1998 by Stark, Karl
Knight Ridder/Tribune Business News
Oct. 23--Executives of Vanguard Health Systems, which lost out to Tenet Healthcare Corp. in bidding for eight Allegheny hospitals last month, were in town this week offering another deal to Allegheny and its beleaguered creditors.
On Monday, Vanguard Health raised its bid for six of the eight Allegheny hospitals -- excluding MCP and Hahnemann. But its executives left town by the next day because their bid was not accepted, said a Vanguard Health executive who asked to remain anonymous. He said his colleagues were upset that Allegheny's creditors may have used Vanguard's latest bid to keep Tenet at the table. He called the creditors' actions "duplicitous."
The creditors said that they are merely trying to...
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