Modern Healthcare Alert
September 16, 2003

Tenet Healthcare Corp., Santa Barbara, Calif., is expected to announce today that Tenet President Trevor Fetter will replace Jeffrey Barbakow as CEO of the company, industry sources told Modern Healthcare on condition of anonymity. Fetter, 43, has been acting CEO since Barbakow stepped down in May. Tenet Chairman Edward Kangas confirmed in July that Fetter was among a half-dozen or so finalists for the position. Tenet spokesman Harry Anderson, citing securities regulations, said Tenet could not comment on the matter. Tenet is scheduled to give an investor presentation tomorrow at a Banc of America Securities conference in San Francisco, the company's first such appearance in six months.

Fetter rejoined Tenet in November 2002, shortly after revelations about the company's high Medicare outlier payments and allegations that two physicians performed medically unnecessary procedures at its Redding (Calif.) Medical Center rocked the company. Fetter's career has been closely linked to that of Barbakow, who relinquished his spot as Tenet's chairman in July. Barbakow and Fetter worked together at Merrill Lynch & Co. and Metro-Goldwyn-Mayer/United Artists before Barbakow hired Fetter at Tenet in 1995. Fetter was executive vice president and then CFO of Tenet until leaving in 2000 to be chairman and CEO of Broadlane, a Tenet spinoff. -- by Vince Galloro