Dallas-based Tenet Healthcare closed the sale of three hospitals and an agreement to sell four more while Nashville, Tenn.-based HCA Healthcare completed its purchase of a bankrupt Texas hospital.
Tenet completed the sale of three South Carolina hospitals to Winston-Salem, N.C.-based Novant Health in a $2.4 billion deal. The deal was first announced in November. As part of the deal, Tenet’s Conifer Health Solutions subsidiary will enter into a new and expanded 15-year contract to provide revenue cycle management services for the three hospitals and related operations.
The hospitals changing hands in that deal are Mount Pleasant, S.C.-based East Cooper Medical Center, Hilton Head (S.C.) Hospital and Hardeeville, S.C.-based Coastal Carolina Hospital.
Tenet also reached a definitive agreement to sell four hospitals in Southern California and their associated outpatient locations to Orange, Calif.-based UCI Health for $975 million.
The deal is expected to close this spring and involves Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical Center and Placentia-Linda Hospital.
HCA subsidiary Medical City Healthcare in Dallas is now a 20-hospital system after completing its purchase of Trinity Regional Hospital Sachse (Texas), which filed for bankruptcy in 2023.
A bankruptcy judge approved the sale of the 3-year-old hospital to HCA in November after an auction. Trinity Regional Hospital Sachse’s owner listed assets of $50 million to $100 million and liabilities of $100 million to $500 million on the bankruptcy petition.
The hospital was renamed Medical City Sachse and will operate as a campus of Medical City Plano (Texas), with “all current employees” transitioning to Medical City Healthcare.
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.
