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Dallas-Based Tenet Unloads 5 Hospitals for $910M
Dallas-based Tenet Healthcare sold its 70% majority ownership interest in Birmingham, Ala.-based Brookwood Baptist Health to Orlando Health. The proposed deal is valued at approximately $910 million in cash.
The proposed transaction includes five hospitals, with a total of more than 1,700 beds, as well as affiliated physician practices and other related operations:
- Brookwood Baptist Medical Center (Birmingham)
- Princeton Baptist Medical Center (Birmingham)
- Walker Baptist Medical Center (Jasper, Ala.)
- Shelby Baptist Medical Center (Alabaster, Ala.)
- Citizens Baptist Medical Center (Talladega, Ala.)
Under the proposed agreement, Tenet’s management arm, Conifer Health Solutions, will enter into a 10-year contract to provide services for the Alabama hospitals and related operations.
Tenet has more than 535 ambulatory surgery centers and surgical hospitals, 52 hospitals and approximately 160 additional outpatient centers and other sites of care.
Orlando Health’s system includes 17 hospitals and 10 free-standing emergency rooms, with four hospitals and six free-standing emergency rooms in development.
