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Tenet Healthcare Agrees to Sell Redding, Calif., Medical Center.
Knight Ridder/Tribune Business News, April, 2004
The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Apr. 17--Tenet Healthcare Corp. announced Friday that it has reached agreement to sell Redding Medical Center, its hospital at the center of numerous surgery and billing probes, to Hospital Partners of America Inc.
Under the terms of the deal, HPA, a privately held company based in Charlotte, N.C., would purchase the Redding hospital for approximately $60 million.
The sale, ordered by federal regulators in December as a condition for the Redding hospital to keep billing Medicare and other government health programs, is expected to be completed by June 30, Tenet officials said.
With the ownership change, Tenet officials said Redding Medical Center has been assured...
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