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Wednesday, July 28, 1999 | 11:08 a.m.
SANTA BARBARA, Calif. -- Tenet Healthcare Corp., owner of Lake Mead Hospital in North Las Vegas, today reported a fourth-quarter loss of $137 million or 44 cents per share vs. a loss in the year-ago quarter of $141 million or 46 cents per share.
The latest quarter loss resulted from an after-tax charge of $268 million, or 86 cents per share the company took for restructuring and impairments and for anticipated losses on the sale or closure of some hospitals and home health agencies.
Tenet said deeper than expected cuts in Medicare payments hurt its performance.
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