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The sale of the Graduate Hospital to the University of Pennsylvania Health Care System reports the Tenet Healthcare Corporation. The pretax profits from the hospital totaled sixteen and a half million dollars and will be utilized for general corporate issues.
With the announcement of the hospital sale Tenet confirmed that it had completed the sale of eight hospitals out of thirteen that had been announced for sale by the company. They reported that negotiations are currently underway with interested parties in the five hospitals that remain for sale.
Penn will be collaborating up with the Good Shepard Rehabilitation Network to run the Graduate Hospital as a rehabilitation center.
The Pennsylvania facility will also be utilized as a teaching hospital and will additionally be used to provide long term acute care services.
The Penn run hospital facility is expected to begin operations during the summer of 2008.
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Posted on Apr-02-2007
