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Tenet Completes Sale of Tarzana Hospital to Providence Health & Services - California

Posted on: Friday, 19 September 2008, 06:00 CDT

Tenet Healthcare Corporation (NYSE: THC) today announced that a Tenet subsidiary purchased the 245-bed Tarzana campus of Encino-Tarzana Regional Medical Center from HCP (NYSE: HCP), and simultaneously sold it to Providence Health & Services - California. These events complete the previously disclosed transaction announced on July 1, 2008. The related sale of the Encino campus closed on June 2, 2008.

Also, a Tenet subsidiary sold its interest in a joint venture with HCP. The proceeds of the sales, which were not disclosed, will be used for general corporate purposes.

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.

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, 2007, 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.

Source: Business Wire

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