Tenet Healthcare Corp. said it officially sold certain hospital assets of Redding (Calif.) Medical Center to Hospital Partners of America, Charlotte, N.C., for estimated gross proceeds of $55 million. Redding has been the focus of several investigations since October 2002, including investigations into whether two surgeons performed unnecessary surgeries and fraudulently billed Medicare for them. In December 2003 Tenet said it would seek a buyer for Redding as part of an agreement with HHS' inspector general's office to avoid possible exclusion of the hospital from Medicare and Medicaid. Redding may have been subject to exclusion if Tenet remained its owner, but new ownership eliminates the threat, Tenet spokesman Steve Campanini said. "It's the end of a very complicated story," Campanini said. The sales agreement with HPA was announced in April. -- by Joe Mantone
With sale, Tenet exits Redding hospital saga
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.