Tenet Completes Sale of Five Hospitals in California, Louisiana and Ma

Tenet Completes Sale of Five Hospitals in California, Louisiana and Massachusetts

    Business Editors/Health/Medical Writers

    DALLAS--(BUSINESS WIRE)--Jan. 3, 2005--Tenet Healthcare Corporation (NYSE:THC) said today that several of its subsidiaries have completed the previously announced sales of five acute care hospitals in California, Louisiana and Massachusetts to various buyers.

    The completed transactions are as follows:

--	Hollywood Presbyterian Medical Center in Los Angeles, Calif., has been sold to the CHA Medical Group. Net after-tax proceeds, including an approximately $4 million note from the CHA Medical Group and the liquidation of working capital, are estimated to be approximately $71 million.
--	St. Charles General Hospital in New Orleans, La., has been sold to Preferred Continuum Care. Net after-tax proceeds, including the liquidation of working capital, are estimated to be approximately $11 million.
--	Saint Vincent Hospital at Worcester Medical Center in Worcester and two-campus MetroWest Medical Center, consisting of Leonard Morse Hospital in Natick and Framingham Union Hospital in Framingham, have been sold to a subsidiary of Vanguard Health Systems, Inc. Net after-tax proceeds, including the liquidation of working capital, are estimated to be approximately $169 million.

    The company expects to use the proceeds of the sales for general corporate purposes.
    The five hospitals are among 27 hospitals Tenet announced it was divesting on Jan. 28, 2004. With today's announcement, Tenet has completed the divestiture of 18 of the 27 facilities and has entered into definitive agreements to divest an additional four hospitals. Discussions and negotiations with potential buyers for the remaining five hospitals slated for divestiture are ongoing.

    Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenet's hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at www.tenethealth.com.

    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 fiscal year ended Dec. 31, 2003, 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.

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CONTACT: Tenet Healthcare Corporation Steven Campanini, 805-563-6838 (Media) Thomas Rice, 805-563-7188 (Investors)

KEYWORD: CALIFORNIA MASSACHUSETTS LOUISIANA INDUSTRY KEYWORD: BANKING MEDICAL SOURCE: Tenet Healthcare Corporation

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