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Former Alvarado exec charged

August 22, 2006 — 8:01pm ET

More Tenet troubles: Mina Nazaryan, a former exec at Tenet's Alvarado Medical Center who was charged with conspiracy last year, was sentenced to three years' probation and received a $27,000 fine. The sentence is her reward for the part she played in a scheme to give doctors kickbacks in the form of relocation bonuses. Nazaryan could have faced up to 27 months but her sentence was …

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Is Tenet's recovery for real?

May 25, 2006 — 8:01pm ET

This month's settlement of the federal racketeering case against Tenet's Alvarado Medical Center in San Diego appears to open the door for the company to leave its troubles behind. That fact, combined with a blue dot special share price around $7, has made the company one of the most closely watched on Wall Street over the past month. But it is also the subject of controversy. Can a company that has had as many problems as Tenet has had ever be considered safely out of the woods? The …

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A global settlement for Tenet?

May 18, 2006 — 8:01pm ET

Tenet's decision to resolve the Alvarado Medical Center case clears the way for a global settlement for the company. Some observers think such an agreement could end up costing Tenet as much as $2 billion. The San Diego Union-Tribune talks to Deutsche Bank analyst Darren Lehrich, who notes that the company still faces an inquiry over Medicare outlier payments. "The Alvarado settlement is important in that it brings closure, but a global settlement will really put all of Tenet's …

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Future uncertain for Tenet Healthcare

May 17, 2006 — 8:01pm ET

A day after Tenet Healthcare announced a settlement in its federal kickback case, a spokesman for the company said it is already looking for potential buyers for Alvarado Medical Center in San Diego. Wall Street was ready to welcome Tenet back into the fold with the company's shares among the hottest on the market yesterday, rising more than 8 percent, to $8.03, before cooling today.

Critics, however, are not quite as enthusiastic about the company's prospects. The Street …

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Tenet pays $21M to settle Alvarado case

May 16, 2006 — 8:01pm ET

Tenet Healthcare said that it has reached an agreement with federal officials to settle charges that it used kickback payments to doctors to encourage them to refer patients. The hospital chain will pay a fine of $21 million. The Dallas-based provider has also agreed to either sell or shut down Alvarado Medical Center. Federal prosecutors had charged that the hospital improperly used payments to physician groups as an incentive to encourage them to refer patients. Tenet shares rallied up …

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Tenet faces legal challenges

May 14, 2006 — 8:01pm ET

A number of major issues still face Tenet, including criminal prosecution threats and a federal anti-kickback case. For one thing, an inquiry into possible criminal wrongdoing at Memorial Medical Center in New Orleans during Hurricane Katrina is still a possibility. Next week, San Diego prosecutors are expected to announce if there will be a new trial in the federal anti-kickback case against Tenet-owned Alvarado Medical Center. In a separate review, Tenet also faces the …

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Alvarado faces loss of federal programs

May 8, 2006 — 8:01pm ET

The Department of Health and Human Services said it wants to bar Tenet's Alvarado Medical Center in San Diego from participating in federal programs over charges that the hospital broke anti-kickback laws by paying doctors large relocation bonuses. The step would prevent the provider from participating in Medicare and Medicaid, effectively eliminating a major revenue stream. Such threats are often considered largely symbolic, however. HHS rarely imposes the punishment, as doing so is …

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Judge postpones decision on Tenet trial

April 17, 2006 — 8:01pm ET

Will Tenet's Alvarado Medical Center face a third criminal fraud trial? A federal judge on Monday agreed to delay a decision on the matter until May 22. That is raising hopes in some quarters that prosecutors will elect not to pursue further action against the company. Healthcare insiders have been closely tracking the government's bribery case against the San Diego hospital and former chief executive Barry Weinbaum for over a year. Two juries have reached non-decisions in the case, which …

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VISICU shares rise in first day of trading

April 5, 2006 — 8:01pm ET

Shares of VISICU did well yesterday in the company's first day of trading, closing at $24.78--a jump of 55 percent over the stock's opening price of $16. That price makes the Baltimore maker of a high tech system designed to help hospitals monitor intensive care units more efficiently worth roughly $750 million. Some analysts had predicted a lackluster showing given potential legal problems facing the company this year--particularly a patent case filed by competitor iMDSoft. Wall Street, …

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Mistrial in Alvarado Medical Center case

April 4, 2006 — 8:01pm ET

A judge in San Diego declared a mistrial in the federal kickback trial of Alvarado Medical Center after 11 months, marking the second time the case has been thrown out. Prosecutors had argued that the Tenet-owned hospital and former CEO Barry Weinbaum violated federal law by paying lucrative relocation bonuses to doctors in exchange for referrals. The case is seen as a potential turning point for the Dallas-based Tenet, which has endured a three year long slide after federal authorities …

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