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Tenet to divest Missouri hospital

Dallas-based Tenet Healthcare entered into a definitive agreement Jan. 5 to sell St. Louis-based Des Peres Hospital and other Tenet-owned physician practices and hospital-affiliated operations in the area to St. Luke's Hospital, a 493-bed facility in Chesterfield, Mo.

Ronald A. Rittenmeyer, executive chairman and CEO of Tenet, said the divestiture was part of the health system's plan to secure the long-term sustainability of the hospital for its employees, physicians and patients.

"St. Luke's Hospital shares Tenet's commitment to providing patients with high quality care and the best patient experience possible. We believe that St. Luke's will complement and enhance Des Peres' position within the St. Louis community, which the hospital has proudly served for more than 40 years," said Mr. Rittenmeyer.

Tenet officials expect to complete the transaction early this year, pending customary closing conditions and regulatory approval.

More articles on transactions and valuations:
Illinois OKs BJC HealthCare's 2-hospital takeover plan
SSM Health completes sponsorship transfer of 2 Wisconsin health facilities
UNC Health Care finalizes purchase, rebrands bankrupt North Carolina hospital

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