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Tenet to sell 2 Tennessee hospitals as part of $350M deal

Tenet Healthcare, a 65-hospital chain based in Dallas, entered into a definitive agreement Dec. 12 to sell its hospitals and other facilities in the Memphis, Tenn., area to Methodist Le Bonheur Healthcare.

Tenet is selling Saint Francis Hospital-Memphis, Saint Francis Hospital-Bartlett (Tenn.), the physician practices associated with the hospitals, and six urgent care centers to Memphis-based Methodist Le Bonheur. Tenet agreed to sell the hospitals and other assets for $350 million in cash, according to a Dec. 13 filing with the Securities and Exchange Commission.

The parties expect the transaction to close in 2020, pending regulatory approvals. After the transaction is completed, Tenet's Conifer Health Solutions subsidiary will continue to provide revenue cycle management services to the two hospitals.

More articles on healthcare industry transactions:

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