Tenet No Longer In Talks To Acquire CT Hospitals

Tenet Healthcare Corporation will no longer be entering into Connecticut to acquire five hospitals, according to a statement released by Tenet and Gov. Malloy. Both sides have failed to come to an agreement and have ended negotiation talks. The news comes after Tenet and the Malloy Administration promised in January to revive the deals. Tenet has spent two years trying to make the acquisitions, which included Waterbury, St. Mary’s, Bristol, Manchester Memorial, and Rockville General hospitals. In a statement, Malloy said “the environment for both providers and state governments is complex and rapidly changing. Unfortunately, the issues that separated us simply could not be overcome.”

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Tenet CEO: Plans To Acquire CT Hospitals Could Be Revived

The CEO of Tenet Healthcare, Trevor Fetter, has sent a letter to Connecticut Governor Dannel P. Malloy saying that he is open to coming back to the negotiating table to acquire five Connecticut hospitals if the state loosens some of its regulatory requirements. Several conditions would have to exist for Tenet to reconsider acquiring Waterbury, St. Mary’s, Bristol, Manchester Memorial, and Rockville General hospitals. Fetter emphasizes that any conditions placed on its deals must apply equally to all hospitals in the state as well as other organizations interested in buying a hospital in Connecticut – whether they are nonprofit or for-profit operators. Malloy sent a letter earlier this month urging Fetter to send a Tenet representative to meet with Mark Ojakian, the governor’s chief of staff, to negotiate a deal. In December, Tenet pulled out of its plan to acquire five Connecticut hospitals after state regulators issued 68 conditions on the purchase that would bar layoffs and price increases for at least five years.

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Tenet Abandons Plans To Acquire Connecticut Hospitals

Tenet Healthcare has officially pulled the plug (for now) on its acquisition of four Connecticut hospitals. Tenet notified government officials that it would not continue its pursuit of buying Waterbury Hospital, St. Mary’s Hospital, Bristol Hospital, and Eastern Connecticut Health Network to convert them from non-profit hospitals to for-profit ones. Tenet cites the extensive list of proposed conditions as reasons for pulling out of the four transactions. Tenet’s decision has widespread impact on Connecticut’s healthcare industry and also creates a political problem for Governor Dannel P. Malloy and his state legislature. Connecticut hospitals were depending on Tenet for capital to remain economically viable long-term and now may need to find other partners or ask the state legislature for funding increases.

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Hospital Operator To Pay $42.8 Million

Owner and operator of acute-care hospitals, Tenet Healthcare Corp., has agreed to pay $42.8 million to resolve allegations it over billed Medicare for the treatment of patients who needed intense inpatient rehabilitation.

The allegations involve the admission of patients at 25 facilities from May 2005 to December 2007. The Justice Department said Tenet billed Medicare for patients who did not meet the standards for admission to inpatient rehab facilities. Medicare pays those facilities at a higher rate because patients require more difficult rehabilitation and more medical supervision than patients at other types of facilities.

The recovery is the single largest in the U.S. involving inappropriate inpatient rehab admissions.

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