Tenet Healthcare Corp – ‘SC 13D/A’ on 5/29/98 re: Kindred Healthcare, Inc – EX-2

As of:  Friday, 5/29/98   ·   Accession #:  1047469-98-22125   ·   File #:  5-53977

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment to General Statement of Beneficial          17     57K 
                          Ownership                                              
 2: EX-1        Underwriting Agreement                                 1      7K 
 3: EX-2        Plan of Acquisition, Reorganization, Arrangement,      1      8K 
                          Liquidation or Succession                              

EX-2   —   Plan of Acquisition, Reorganization, Arrangement, Liquidation or Succession

EX-2
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[logo]                                                             NEWS RELEASE 

TENET HEALTHCARE CORPORATION                                                    
HEADQUARTERS OFFICE                                                             
3820 STATE STREET                                                               
SANTA BARBARA, CA 93105                                                         
TEL (805) 563-6855                INVESTOR CONTACT: PAUL RUSSELL (805) 563-7188 
FAX (805) 563-6871                MEDIA CONTACT: LANCE IGNON (805) 563-6975     
HTTP://WWW.TENETHEALTH.COM                                                      

TENET HEALTHCARE COMPLETES SALE OF VENCOR SHARES; 
CLARIFIES TERMS OF 6% EXCHANGEABLE SUBORDINATED NOTES DUE 2005

SANTA BARBARA, CALIF. - MAY 27, 1998 - Tenet Healthcare Corporation   
(NYSE: THC) today completed the sale of its shares of Vencor, Inc. (NYSE: VC)   
and released the following information concerning its 6% Exchangeable           
Subordinated Notes due 2005.                                                    

Tenet sold its entire holdings of 8,301,067 Vencor shares primarily to
institutions, generating net proceeds of $76,598,434.11. The average net        
proceeds per Vencor share were $9.2275. Accordingly, each $1,000 principal      
amount of Notes is exchangeable into 25.9403 shares of Ventas, Inc. common      
stock (NYSE: VTR) and $239.36 in cash. The cash distribution is determined by   
multiplying the average net proceeds of $9.2275 by 25.9403 shares.              

  The sale of the shares was completed this morning in accordance with the
indenture governing the Notes and in compliance with the volume and other       
restrictions of Rule 144 of the Securities Act of 1933. Tenet had announced     
on May 6 its intent to sell the shares in this manner, following Vencor's May 1 
reorganization.                                                                 

Based in Santa Barbara, Calif., Tenet Healthcare through its          
subsidiaries owns and operates 123 acute care hospitals and related             
healthcare services from coast to coast. The company employs 112,500 people     
serving communities in 18 states. Tenet's name reflects its core business       
philosophy: the importance of shared values among partners - including          
employees, physicians, insurers and communities - providing a full spectrum     
of quality healthcare. Tenet can be found on the World Wide Web at              
www.tenethealth.com.                                                            

###   

Dates Referenced Herein

This ‘SC 13D/A’ Filing		Date		Other Filings
Filed on:		5/29/98		None on these Dates
		5/27/98
				List all Filings