Tenet Unloads Gulf Coast Asset for $14M

"The hospital was one of six we operate in the Gulf Coast region," says Steven Campanini for the Dallas-based Tenet. "We have five additional hospitals in New Orleans, three of which are open and two which remain closed." He adds Tenet is reviewing strategies for potential dispositions, but there are no definitive agreements to sell the other hospitals.

Campanini tells GlobeSt.com that the Hurricane Katrina is partly responsible for the decision to sell the Gulf Coast Medical Center at 180 Debuys Rd. The hospital withstood the powerful storm, but the surrounding community, just north of coastal highway US 90, was decimated. "We felt it was best to transfer the building and property to HMA," Campanini says. Health Management Associates now owns 10 facilities in the state, including the 153-bed Biloxi Regional Medical Center at 150 Reynoir St.