DALLAS – Feb. 1, 2008 – Tenet Healthcare Corporation (NYSE: THC) today announced that a company subsidiary has signed a definitive agreement to sell North Ridge Medical Center, a 332-bed acute care hospital located in Ft. Lauderdale, Fla., to Holy Cross Hospital, Inc., also located in Ft. Lauderdale. Financial terms were not disclosed.
Holy Cross Hospital is a full-service Catholic hospital in Broward County, sponsored by the Sisters of Mercy. Holy Cross is a 571-bed hospital that opened in 1955. Holy Cross has more than 600 physicians on staff representing more than 40 specialties, and over 2,800 employees.
The transaction is subject to customary regulatory approvals and is expected to be completed within 60 days. Tenet announced in November of 2007 that it was seeking a buyer for North Ridge Medical Center.
Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers. Tenet is committed to providing high quality care to patients in the communities we serve. Tenet can be found on the World Wide Web at www.tenethealth.com.
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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, 2006, 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.