Tenet Will Sell Forest Park, St. Alexius Hospitals
St. Louis, MO – The nation's second-largest hospital owner, Tenet Healthcare, announced plans Wednesday to sell 27 of its hospitals, including Forest Park and St. Alexius hospitals in St. Louis.
The company will keep Saint Louis University and Des Peres hospitals, but said it can no longer afford weak financial results at Forest Park and St. Alexius.
Tenet has been shaken by losses and fraud allegations. Forest Park Hospital CEO John Sanders says the hospital is for
sale, not closing, so patients and staff don't need to be concerned.
Tenet says the sale will lead to net losses for all of 2003 and 2004. It includes 19 hospitals in California and others in Louisiana, Massachusetts and Texas.
The company agreed last year to a $54 million fine to settle allegations that at least two doctors in California subjected patients to unnecessary heart operations. It was the largest fine ever paid for Medicare fraud.