Printer Friendly
The Free Library
19,604,538 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

CareSouth to Acquire 4 California Home Health Agencies and an Infusion Center from Tenet.


Dec. 17, 2004--Tenet Healthcare Corporation (NYSE NYSE

See: New York Stock Exchange
:THC THC tetrahydrocannabinol.

THC
n.
Tetrahydrocannabinol; a compound that is obtained from cannabis or is made synthetically; it is the primary intoxicant in marijuana and hashish.
) announced today that several of its subsidiaries have entered into a definitive agreement to sell four California home health agencies and an infusion center to CareSouth HomeCare Professionals of Augusta, Ga.

Included in the sale are the home health agencies at Desert Regional Medical Center in Palm Springs, Alvarado Hospital Medical Center in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Community Hospital of Los Gatos Los Gatos (lôs gä`tōs, lŏs, găt`əs), city (1990 pop. 27,357), Santa Clara co., W Calif.; inc. 1887. It is an affluent residential community and health resort.  in Los Gatos and Garden Grove Hospital and Medical Center in Garden Grove, as well as a related infusion center at Desert Regional.

Net after-tax proceeds, including the liquidation of working capital, are estimated to be approximately $6 million. The company expects to use the proceeds for general corporate purposes. The sale is scheduled to be completed by Feb. 28, 2005.

CareSouth is a privately held company privately held company

A firm whose shares are held within a relatively small circle of owners and are not traded publicly.
 founded in 1997 that specializes in the management and operation of home health care agencies. CareSouth currently operates in six states, including California. CareSouth has committed to offer employment to all employees of the home health agencies and infusion center.

The sale of these assets will complete Tenet's divestiture of home health operations owned and operated by company subsidiaries. In May, several Tenet subsidiaries completed the sale of 11 home health agencies and two hospices located in seven southern states to Amedisys, Inc. Net after-tax proceeds from that sale, including the liquidation of working capital, are estimated to be approximately $16 million. Tenet is divesting its home health agencies as part of its strategic focus on 69 core acute care hospitals, which will provide the company's platform for future growth.

Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenet's hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at www.tenethealth.com.

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K Form 10-K

A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information.


Form 10-K

See 10-K.
 for the fiscal year ended Dec. 31, 2003, our quarterly reports on Form 10-Q Form 10-Q

See 10-Q.
 and periodic reports on Form 8-K Form 8-K

The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock.


Form 8-K

See 8-K.
. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:Dec 17, 2004
Words:442
Previous Article:Anderson to Become Acting Head of Detroit Newspaper Agency.
Next Article:Black Point Capital Announces Execution of Amalgamation Agreement with Mistral Pharma and Date of Special Meeting.
Topics:



Related Articles
HOSPITAL NEEDS MILLIONS IN QUAKE-RETROFITTING.
UNION WINS HOSPITAL VOTE.
BRIEFCASE LAWMAKER URGES TAX CREDIT FOR FILMS.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles