DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE: THC) today provided an update on its divestiture program and the completion of several previously announced transactions, including:
- The sale of MacNeal Hospital and related operations, which are located in a suburb of Chicago, to Loyola Medicine, an affiliate of Trinity Health;
- The sale of Tenet’s minority interest in Baylor Scott & White Medical Center – White Rock, which is located in Dallas, to Pipeline Health, LLC;
- The sale of Tenet’s minority interest in Baylor Scott & White Medical Center – Centennial and Baylor Scott & White Medical Center – Lake Pointe, which are both located in the greater Dallas area, to Baylor Scott & White Health; and,
- The transfer of Tenet’s minority interest in Baylor Scott & White Medical Center – Sunnyvale, which is located in the greater Dallas area, to Texas Health Ventures Group, an existing joint venture between Tenet’s United Surgical Partners International subsidiary and Baylor Scott & White Health.
Tenet has received over $550 million of cash proceeds in the first quarter of 2018 from the transactions listed above, and from the sale of two hospitals and related operations in Philadelphia.
Tenet Healthcare Corporation is a diversified healthcare services company with approximately 115,000 employees united around a common mission: to help people live happier, healthier lives. Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners International, the Company operates general acute care and specialty hospitals, ambulatory surgery centers, urgent care centers and other outpatient facilities in the United States and the United Kingdom. Tenet’s Conifer Health Solutions subsidiary provides technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, physician groups, self-insured organizations and health plans. For more information, please visit www.tenethealth.com.
The terms "THC", "Tenet Healthcare Corporation", "the Company", "we", "us" or "our" refer to Tenet Healthcare Corporation or one or more of its subsidiaries or affiliates as applicable.