Tenet Healthcare Corp., Santa Barbara, Calif., completed its sale of 225-bed Midway Hospital Medical Center, Los Angeles, to Physicians of Midway for about $12 million. Physicians of Midway is a for-profit company newly formed by doctors with longstanding ties to the hospital, which Tenet acquired in 1997 as part of its acquisition of OrNda HealthCorp. Midway is the 11th hospital Tenet has divested since January, when it announced plans to shed 27 hospitals. Tenet has agreements to sell an additional 10 hospitals and said it is in ongoing discussions with potential buyers for the six remaining hospitals. Tenet will have 69 hospitals when its divestiture program is completed. -- by Laura B. Benko
Tenet sells Los Angeles hospital to doctors group
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