Tenet Healthcare Corp., Dallas, agreed to sell two-campus Community and Mission Hospitals of Huntington Park (Calif.) to Karykeion, a privately held company that includes 25 physician investors who practice at the hospitals.
Tenet said it anticipates $3 million in net after-tax proceeds, including liquidation of working capital. The deal is expected to close within several months. The two campuses were among 27 hospitals Tenet slated for divestiture in January 2004. Two hospitals on the list, both in Southern California, have yet to be sold.
Separately, Tenet said it regained control of Kenner (La.) Regional Medical Center from Jefferson Parish, La., which had commandeered the hospital in the wake of Hurricane Katrina as living and office space for military and emergency workers. Kenner Regional has begun offering limited services, including an emergency department.