Palm Beach Gardens Medical Center had been leased from AMREIT, a healthcare real estate investment trust based in Irvine, Calif., to Tenet since 1987. AMREIT affiliate HCP recently sold the hospital to Palm Beach Community Hospital, a Tenet subsidiary that operates Palm Beach Gardens Medical Center.
Tenet announced plans in September to expand the operating room at the medical center, a project that is estimated to cost $16 million. The size of the investment might have driven the hospital operating company to purchase full ownership of the medical center, according to the report.
More articles on hospital transactions:
Piedmont taking over clinics in 27 Atlanta-area Walgreens stores
Billings Clinic formalizes alliance with Children’s Hospital Colorado
Norton Cancer Institute, Churchill Downs partner on local women’s breast health program
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
