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Tenet closes $1.1B surgery center deal

Tenet Healthcare and its subsidiary United Surgical Partners International have completed their acquisition of Towson, Md.-based SurgCenter Development.

Dallas-based Tenet paid $1.1 billion to acquire SurgCenter Development's ownership interests in 86 ambulatory surgery centers and related services, the company said in a Dec. 22 news release. USPI has offered to acquire a portion of equity interests in the ASCs from physician owners for $250 million.

USPI and SurgCenter also entered into an agreement that gives USPI the option to partner with SurgCenter to develop at least 50 centers over a five-year period. 

Tenet CEO Saum Sutaria, MD, called the deal "transformative" when it was announced in November. The transaction builds upon SurgCenter's record of developing high-quality centers and USPI's position as a growth partner, Dr. Sutaria said.

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