Melissa Davis
"When Tenet acquired Centinela Hospital, my group and I were asked to come over to enhance the program," Frankel explained. "Before that, it was a very small cardiology department doing very few cases. ... Centinela has completely revitalized the cardiology department." State records confirm that Centinela's cardiac business has, in fact, rocketed. Five years ago, the hospital performed just 75 bypasses and 550 catherization procedures. Those numbers had jumped to 179 and 1,802, respectively, the year Frankel offered his testimony. Catherization numbers have since continued to climb. Back in 2001, Frankel pointed to his own group as the driver behind that new business. "My group and I have been responsible for the majority of the cardiac cases being done at both" Centinela and Daniel Freeman Memorial, he explained. Two weeks ago, the Los Angeles Business Journal reported that federal prosecutors had launched an official probe of the high-profile cardiac practice. But the group, known as Apex Cardiology Consultants, could be aiming still higher. A local physician last month pointed to the Apex cardiologists as the "lead investors" hoping to buy Centinela, both Freeman hospitals and two other Tenet-owned facilities. Another physician, who practices primarily at Daniel Freeman Memorial, isn't necessarily counting on conditions to improve. "Change brings opportunity," he admitted. "But it depends on who comes in and purchases the hospitals." If the buyer takes the same view as Tenet, he added, things will remain the same. The Marina hospital, at least, has attracted an alternative bidder. The same group that saved Marina -- and now operates as We CAHRE, short for Community Action for Healthcare Reform and Education -- is trying to acquire the facility and transform it into a nonprofit resource for the community. But We CAHRE's leader is still waiting for Tenet to even acknowledge the bid. In the meantime, she marvels at all that has transpired. "Hospitals are supposed to save people," Inouye stated. "Instead, we've got people saving hospitals. Tenet has a way of turning everything upside-down."
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
Keep on top of the market and the critical information you need to make more profitable investing decisions.
Sponsored by:




