Tenet Completes Sale of Shelby Regional Medical Center
DALLAS. Tenet Healthcare Corporation (NYSE: THC) announced today that a company subsidiary has completed the previously disclosed sale of Shelby Regional Medical Center, a 54-bed acute care hospital located in Center, Texas, to Shelby Medical Holdings, LLC. Year-to-date, the hospital has had an average daily census of eight.
Pre-tax proceeds from the sale are approximately $2 million. The proceeds will be used for general corporate purposes.
With the sale of Shelby Regional Medical Center now complete, three acute care hospitals remain for sale. They are:
Encino-Tarzana Regional Medical Center Encino campus, Los Angeles, Calif.
Encino-Tarzana Regional Medical Center Tarzana campus, Los Angeles, Calif.
North Ridge Medical Center, Ft. Lauderdale, Fla.
Discussions with potential buyers for these hospitals are ongoing.
Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenets 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 for the year ended Dec. 31, 2005, our quarterly reports on Form 10-Q and periodic reports on Form 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.
Media: Steven Campanini (469) 893-6321
Investors: Thomas Rice (469) 893-2522
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