Tenet Healthcare (Tenet), through its subsidiaries, owns and operates approximately 100 acute care hospitals. Tenet is the nation's second-largest investor-owned hospital  company. Tenet and its subsidiaries employ approximately 107,500 people across the country. Tenet hospitals are supported by a Dallas-based service center. Integrated delivery systems are the cornerstone of Tenet's operating strategy and the company has successfully developed and operated such systems in a number of markets across the country, including Greater New Orleans, South Florida, St. Louis and, most recently, Philadelphia. Other Tenet networks are evolving in such areas as Dallas, Houston and Atlanta. In all, nearly two-thirds of its hospitals are located in markets or counties where Tenet holds either the No. 1 or a strong No. 2 market position. Each network is uniquely tailored to the needs of its local and regional communities. Tenet announced a major restructuring of its operations in 2004 designed to focus its financial and management resources on 69 acute care hospitals in 13 states and create a stronger company with enhanced potential for long-term growth.  To achieve this objective, the company is divesting approximately 27 hospitals, including 19 in California and 8 others in Louisiana, Massachusetts, Missouri and Texas.