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Tenet to sell remaining 3 Chicago-area hospitals

Dallas-based Tenet Healthcare entered into a definitive agreement to sell its three remaining Chicago-area hospitals, the health system announced July 18.

Tenet will divest the three acute care hospitals to TWG Partners, a Chicago-based healthcare investment firm founded by Eric Whitaker, MD, the former Illinois public health director and associate of former President Barack Obama, according to Crain's Chicago Business, and Pipeline Health.

The three hospitals included in the sale are:

  • Weiss Memorial Hospital, a 236-bed facility in Chicago
  • Westlake Hospital, a 225-bed facility in Melrose Park, Ill.
  • West Suburban Medical Center, a 234-bed facility in Oak Park, Ill.

Hospital operator Pipeline Health will manage the three hospitals once the sale is finalized, with expected completion during the fourth quarter of 2018, pending regulatory approval.

Tenet also recently completed the sale of MacNeal Hospital in Berwyn, Ill., and its local physician practices to Chicago-based Loyola Medicine — part of Livonia, Mich.-based Trinity Health — in March.

More articles on transactions and valuations:
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3 recent healthcare partnerships and transactions

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