Tenet Signs Definitive Agreement to Acquire Emanuel Medical Center in California
announced (pdf) it has entered into a definitive agreement to acquire 209-bed Emanuel Medical Center in Turlock, Calif.
Financial terms of the deal were not disclosed, but under the agreement, Emanuel would remain affiliated with the Evangelical Covenant Church and become part of Tenet's 49-hospital system. Tenet executives expect the acquisition, which still must meet certain regulatory approvals and other closing conditions, to close in the second quarter of this year.
"The acquisition strongly positions the network to improve patient care by integrating physician organizations, developing additional outpatient facilities in locations convenient for patients and expanding Tenet's accountable care offerings," the news release stated.
Emanuel sought Tenet as a partner in September.
More Articles on Hospital Acquisitions:Does Joe Swedish's Appointment Hint at WellPoint Plans to Acquire Hospitals?
Details Emerge on Asante Health, Ashland Hospital Merger in Oregon
Bankrupt Bamberg County Hospital in SC Prepares for Proposed HCA Buyout
© Copyright ASC COMMUNICATIONS 2015. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.
To receive the latest hospital and health system business and legal news and analysis from Becker's Hospital Review, sign-up for the free Becker's Hospital Review E-weekly by clicking here.
New from Becker's Hospital Review