Roseville, Calif.-based Adventist Health has finalized an agreement with Dallas-based Tenet Healthcare to acquire two California hospitals, effective March 29.
The acquisition includes the two hospitals, Sierra Vista Regional Medical Center in San Luis Obispo and Twin Cities Community Hospital in Templeton, along with their related provider practices and imaging centers, according to a March 29 news release shared with Becker's.
The Sierra Vista hospital now operates as Adventist Health Sierra Vista, and the Twin Cities hospital now operates as Adventist Health Twin Cities.
Adventist and Tenet signed a definitive agreement in late February for Adventist to acquire the hospitals for around $550 million, or after-tax proceeds of approximately $450 million.
Eleze Armstrong will serve as interim CEO of both hospitals, effective March 29. Ms. Armstrong previously served as COO for Sierra Vista Regional Medical Center and most recently was CEO of Twin Cities Community Hospital.
The acquisition will not affect patient care or appointments. Adventist Health will accept all insurance plans, the release said.