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Tenet Buys Bankrupt Hospital for $30 Mil

ATLANTA-US Bankruptcy Judge Homer Drake has approved the sale of the 369-bed acute care South Fulton Medical Center for $81,301 per bed. Tenet Healthcare starts running the facility Apr. 16.

By Shelley M. Johnson | Updated on March 28, 2001

ATLANTA-Tenet Healthcare Corp. of Dallas is the new owner of the 369-bed acute care South Fulton Medical Center in suburban East Point, GA near Hartsfield International Airport. US Bankruptcy Judge Homer Drake has approved Tenet’s Feb. 9 offer of $30 million or $81,301 per bed to Georgia International Health Alliance, the hospital’s parent.

Tenet begins operating the facility Apr. 16. Georgia International filed for protection from its creditors under Chapter 11 of the Bankruptcy Code in Apr. 2000.

The 21-acre South Fulton Medical Center’s most recent net operating revenue was $85 million, according to Georgia International.

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