Sure looks like.
http://www.latimes.com/business/la-fi-tenet17sep17,0,102287.story?coll=la-home-businessTenet Healthcare Corp. had been struggling for more than two years to overcome financial, legal and image problems — including allegations of unnecessary heart surgeries at a Redding hospital.
Then Hurricane Katrina hit.
The national hospital chain, which hasn't reported a profit in nearly three years, had six hospitals in the region with $600 million in annual revenue. All of them, damaged by the high winds and water, were closed or taken over by local authorities to house rescue workers.
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Analysts say the company, which moved its headquarters from Santa Barbara to Dallas last year, faces storm-related losses of at least $75 million. That doesn't include costs such as payroll and relocation expenses for 5,500 displaced workers.
But the hardest blow to overcome may be the public relations hit that came with discovery of 45 bodies at the company's Memorial Medical Center in New Orleans. Although they're working hard to tell Tenet's side of the story, saying hospital workers went far beyond the call of duty to save patients, executives acknowledge that the body-count headlines are the last thing the company needs.