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BRIEF-Tenet, Paladin reach agreement to transfer ownership of Tenet's Philadelphia hospitals
September 1, 2017 / 3:11 PM / 22 days ago

BRIEF-Tenet, Paladin reach agreement to transfer ownership of Tenet's Philadelphia hospitals

Sept 1 (Reuters) - Tenet Healthcare Corp:

* Tenet and Paladin Healthcare reach definitive agreement to transfer ownership of Tenet’s Philadelphia hospitals

* Says ‍expects to receive proceeds of approximately $170 million from transaction​

* Says ‍proceeds comprised of $152.5 million in cash at closing and a promissory note in amount of $17.5 million​

* Says expects to record estimated non-cash impairment charge of about $230 million pre-tax within continuing operations in quarter ending sept 30​

* Says ‍also expects to report a taxable loss on sale of these assets of approximately $200 million​

* Says ‍also expects to report a taxable loss on sale of the assets of approximately $200 million​ Source text for Eikon: Further company coverage:

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