Both are acute-care facilities. They are among eight hospitals Tenet acquired in 1998 from Allegheny Health System, which went into bankruptcy that year. According to published reports, Tenet paid $345 million for the portfolio. With this purchase Tenet HealthSystem Pennsylvania was formed.
In 2000, Tenet closed City Avenue Hospital, one of the original eight facilities. Last December, it paid $24 million to acquire the 112-year-old, 125-bed Roxborough Memorial medical center here and its affiliated school of nursing.
Roxborough will remain in Tenet's Pennsylvania portfolio, which also includes Graduate Hospital, Medical College of Pennsylvania Hospital, St. Christopher Hospital for Children, Warminster Hospital, and Hahnemann University Hospital, which entered into a merger agreement with Drexel University in April 2002. All six are in the Greater Philadelphia MSA.
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