Tenet Selling Redding Hospital

By now, Tenet's entire operation is under scrutiny. Sen. Finance Committee Chairman Chuck Grassley -- an Iowa Republican who's leading the most public investigation of the company -- said on Thursday that he will continue to seek answers from Tenet.

"I applaud the inspector general's unprecedented action," Grassley said upon news of the pending Redding sale. "This sale won't be the end of my investigation, however. ... We have to expose the terrible things that happened there so they never happen again."

Moriarty, in turn, applauded those who have pursued the company.

"Pearce has been a breath of fresh air," he said, referring to M. Lee Pearce, a Florida physician who chairs the Tenet Shareholder Committee. "He and Grassley have been the real heroes of this whole ordeal."

Tenet's stock climbed 1.7% to $14.74 ahead of Thursday's news.