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Wednesday, Nov 29, 2023

Owner of Encino Hospital Sells Hollywood Facility

Tenet Healthcare Corporation, the owner of Encino Tarzana Medical Center, has oficially sold Hollywood Presbyterian Medical Center. CHA Medical Group announced that it has signed a definitive agreement to purchase the hospital from a subsidiary of Tenet. The transaction was officially closed on December 31. Last month, Encino Tarzana CEO Dale Surowitz said that a new owner of that facility will likely be named early this year. CHA had already owned four acute-care hospitals, two specialty Oriental medicine clinics, a medical university and a cell and gene therapy research institute, all in Korea. The CHA Medical Group is led by Chief Executive Officer Kwang Yul Cha, M.D., who also owns and operates two infertility medical centers in the United States and Korea, including the CHA Fertility Center in Los Angeles. Hollywood Presbyterian Medical Center is an acute-care facility with 434 licensed beds, 1,400 employees and an 800-member medical staff.

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