Tenet Healthcare Corp. has agreed to sell to the University of Southern California both USC University Hospital and USC Norris Cancer Hospital, it was announced Monday. Financial terms were not disclosed.
The facilities near downtown Los Angeles are staffed by USC medical personnel and include a teaching facility. The university owns the land and Dallas-based Tenet manages the buildings and equipment.
Two years ago, USC filed a lawsuit in an effort to force Tenet to sell its ownership and control of USC University Hospital, contending the troubled hospital operator had not invested nearly $100 million to improve the facility as agreed upon.
Tenet denied the charge and filed a counterclaim against the university in November, seeking monetary damages.
The company and the university said they were seeking to resolve the litigation by reaching an agreement on sale terms for the two hospitals.
“USC is committed to working on an expedited basis to reach agreement with Tenet,” USC President Steven B. Sample said.