St. Louis University sold its hospital to Tenet in 1998, but said in June it would buy it back and contribute it to St. Louis-based SSM Health. In a regulatory filing Nov. 2, Tenet said the deal had a transaction price of approximately $32 million, excluding working capital and subject to customary purchase price adjustments.
Tenet recorded net receivables of approximately $51 million since it didn’t sell SLU Hospital’s accounts receivables related to the pre-closing period, according to hospital officials.
On Nov. 2, Tenet also reported a loss of $29 million in the third quarter. On Nov. 3, Tenet and Brentwood, Tenn.-based Duke LifePoint Healthcare reached a definitive agreement for the sale of Tenet’s North Carolina hospitals.
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