Tenet Announces Details of Its Previously Disclosed Plan to Sell 34 Medical Office Buildings

DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC) announced today the details of its previously disclosed plan to sell 34 medical office buildings, totaling 2.4 million square feet of rental space (2.8 million gross square footage). The properties are located throughout the Southeast, as well as Texas, Florida and California. Tenet has retained Jones Lang LaSalle, a nationally recognized real estate broker and advisor, to assist it in the promotion, marketing and sale of the medical office building (MOB) portfolio.

The buildings are being offered as a single MOB portfolio or as separate, regional sub-portfolios to qualified institutional real estate investment companies that understand the acute care hospital business, as well as the value of a strong MOB portfolio. These assets will be sold subject to long-term ground leases, which will be targeted for medical use only.

“This portfolio sale will allow our hospitals to focus on our core business of caring for patients and removes the non-core function of property management responsibilities,” added Biggs Porter, Tenet’s chief financial officer, noting that “the sale increases our financial flexibility and frees up resources that can be more effectively invested in our core operations. Given the current attractiveness of the medical office real estate market, we believe it is the right time to embark on this initiative.”

The medical office buildings within the Tenet portfolio include the following:

-- Doctors Hospital Professional Buildings I and II, Dallas, Texas			-- Medical Arts Building, Miami, Fla.
-- Providence Cliff Building and Providence Medical Plaza, El Paso, Texas			-- Central Professional Building, East Professional Building, Medical Mall and North Professional Building, Fort Lauderdale, Fla.
-- Sierra Medical Center Plaza, El Paso, Texas			-- 285 and 315 Medical Office Buildings, Atlanta, Ga.
-- Fallbrook Building, Houston, Texas			-- 1100 Cleveland Medical Office Building and Medical Arts Center, East Point, Ga.
-- Park Plaza Medical Center, Houston, Texas			-- Frye Medical Office Building, Lincolnton, N.C.
-- Nacogdoches I - Towers and Nacogdoches II - Terrace, Nacogdoches, Texas			-- Garden Grove Medical Plaza, Garden Grove, Calif.
-- Loewenberg and O'Ryan Buildings, Memphis, Tenn.			-- JFK Medical Plaza, Bermuda Dunes, Calif.
-- Brookwood Professional Office Building, Brookwood Medical Plaza, Ambulatory Care Center and Women's Medical Plaza, Homewood, Ala.			-- San Dimas Medical Plaza I and II, San Dimas, Calif.
-- Hialeah Medical Office Building, Hialeah, Fla.			-- San Ramon Medical Office Building IV, San Ramon, Calif.
-- Palmetto Medical Plaza, Hialeah, Fla.
-- Farris Building, West Palm Beach, Fla.
-- PHD Pavilions, West Palm Beach, Fla.

Questions regarding the portfolio should be directed to Jones Lang LaSalle at 1-312-228-2645 or 1-312-228-2213.

Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenet’s hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at www.tenethealth.com.

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2007, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.