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Business & Finance
Tenet sells acute care hospital in Barcelona, Spain, to BC Partners Ltd
June 26th, 2004
Tenet Healthcare Corporation (THC) announced that a company subsidiary has sold Centro Medico Teknon, its 257-bed acute care hospital in Barcelona, Spain, and the company's only remaining international facility, to BC Partners Ltd. 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 buyer will assume approximately $31 million in long-term debt and other liabilities, and will retain the working capital. The company expects to use the proceeds for general corporate...
Source: Law & Health Weekly (2004-06-26)
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