Tenet Signs Definitive Agreement to Acquire Emanuel Medical Center in California
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.
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