Tenet fails to bid for AHERF hospitals
Article Abstract:
Tenet Healthcare Corp., a Santa Barbara, CA-based for-profit hospital, decided yesterday, Sep. 25, 1998, not to bid for Allegheny Health Education and Research's bankrupt hospitals in Philadelphia. The company earlier pledged to give $465 million for the hospitals. According to Tenet spokesman Harry Anderson, the company withdrew its preliminary offer because officials did not believe that there was a viable restructuring plan in place for Allegheny University of the Health Sciences. Allegheny University serves as the academic club for the hospitals. Tenet's decision disappointed many creditors who were hoping to receive many bidders for the cash-strapped hospitals.
Comment:
Decides not to bid for Allegheny Health Education and Research's bankrupt hospitals in Philadelphia
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Tenet still studying bids for hospitals
Article Abstract:
Tenet Healthcare Corp. of Santa Barbara, CA, will soon announce whether it will submit an offer for the eight hospitals in Philadelphia, PA, that were put into bankruptcy by Allegheny Health Education and Research Foundation. Tenet is likewise considering making a bid for physician practices owned by Allegheny General Hospital's parent company. If it decides to make a formal bid, Tenet will compete with Nashville, TN-based Vanguard Health Systems, which has offered $480 million for the eight bankrupt hospitals.
Comment:
Is considering offering a bid for 8 hospitals in Pittsburgh, PA, that were put into bankruptcy by Allegheny Health Education
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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