TENET HEALTHCARE BOWS OUT OF SPANISH OPERATION
SANTA BARBARA - 06/01/04 - A subsidiary of Tenet Healthcare Corporation has sold Centro Medico Teknon SA, its 257-bed acute care hospital in Barcelona, Spain, and the parent company's only remaining international facility, to BC Partners Ltd.
 According to a spokesman for Tenet, the company expects to use the proceeds for general corporate purposes. The Tenet subsidiary has owned and operated Centro Medico Teknon for 10 years.
Funds advised by BC Partners Ltd, a United Kingdom-based company, own General Healthcare Group, one of the largest private hospital groups in Europe with 60 hospitals and more than 2,400 beds.
The acquisition is BC Partners' first acquisition in Spain. The company also owns the Hirslanden Group, the leading hospital group in Switzerland.
Centro Medico Teknon was not among the group of 27 domestic hospitals that Tenet announced it was divesting on Jan. 28, 2004 as part of a major company restructuring.
The 27 hospitals consist of 19 in California, two in Louisiana, three in Massachusetts, two in Missouri and one in Texas.
Tenet Healthcare Corporation, through its numerous subsidiaries, owns and operates acute care hospitals and related health care services.
Net after-tax proceeds from the sale of the shares of New Teknon, S.A., owner of the hospital and related subsidiaries, are approximately $50 million, including an estimated $4.4 million in contingent payments. In addition, the deal calls for the buyer to assume approximately $31 million in long-term debt and other liabilities, and will retain the working capital.
Go
back, or read the latest Page Two stories:
MEXICO LIFTS CALIFORNIA LETTUCE BAN
MEXICO CITY, Mexico – 10/20/06 – The weeks-old ban on California lettuce shipments to Mexico has been lifted after US Department of Agriculture tests for the E. coli bacteria proved negative; California is the country’s leading producer of lettuce with an estimated 70-75% of the total US production of iceberg lettuce and between 80-85% of the leaf lettuce.
NAPSTER ENTERS THE JAPANESE MARKET
LOS ANGELES – 10/16/06 – Napster, the digital music service provider, has entered the Japanese market with the introduction of a new subscription model that allows subscribers, who until now acquired digital music by paying for each track and album individually; currently, Japan is largest music market in the world outside of the US.
GUESS? IN NEW MEXICAN JV
SAN FRANCISCO – 09/29/06 – Fashion marketer Guess? has inked a manufacturing and marketing joint venture agreement with Mexico’s Grupo Axo; the Mexico City-based company will engage in the production, wholesale distribution and retail sale of Guess? fashion apparel, accessories and other related products throughout the country.
GOOGLE BELGIUM TAKEN TO COURT
BRUSSELS, Belgium – 09/20/06 – Internet search engine Google has been ordered to cease reproducing articles from French-language publications in the news sections of its Belgian website; the court order threatens the company with a fine of $1.3 million daily if it does not comply.
NEW OAKLAND INTERMODAL FACILITY PLANNED
OAKLAND – 09/11/06 – The 425-acre former Oakland Army Base will be converted into the Port of Oakland’s newest intermodal rail yard under the terms of an agreement reached between the port and several local and state government agencies; the planned OHIT – or Outer Harbor Intermodal Terminal – is expected to significantly reduce container transfer times, increase throughput, and reduce truck traffic in and around the port when completed within the next several years.
INTEL MAY LAYOFF THOUSANDS
SANTA CLARA – 09/04/06 – Chipmaker Intel is reportedly planning to announce a massive layoff within weeks that could eliminate as many as 10,000 jobs or one-tenth of the company’s total global workforce; the move was spurred by several financially disappointing quarters and the results of an internal corporate analysis conducted in April.
|
![](http://click.linksynergy.com/fs-bin/click?id=h8BN5KCpRYw&offerid=20386.10000001&type=4&subid=0"><IMG width="120" height="60" alt="blue box" border="0" src="http://www.site59.com/global/images/affiliate/120_60(bl)_01.gif"></a><IMG border="0" width="1" height="1" src="http://ad.linksynergy.com/fs-bin/show?id=h8BN5KCpRYw&bids=20386.10000001&type=4&subid=0">){kind=link}