Tenet Announces Definitive Agreement to Divest Memphis-Area Hospitals and Operations
December 13 2019 - 10:00AM
Business Wire
Tenet Healthcare (NYSE: THC) has entered into a definitive
agreement with Methodist Le Bonheur Healthcare to divest Tenet’s
hospitals and other operations in the Memphis area. The agreement
includes the sale of Saint Francis Hospital – Memphis and Saint
Francis Hospital – Bartlett, the physician practices associated
with both hospitals, and six MedPost urgent care centers.
The agreement provides that Tenet’s Conifer Health Solutions
subsidiary will continue to provide revenue cycle management
services to the hospitals following completion of the transaction.
The transaction is expected to be completed in 2020, subject to
regulatory approvals and customary closing conditions.
About Tenet Healthcare
Tenet Healthcare Corporation (NYSE: THC) is a diversified
healthcare services company headquartered in Dallas with 110,000
employees. Through an expansive care network that includes United
Surgical Partners International, we operate 65 hospitals and
approximately 500 other healthcare facilities, including surgical
hospitals, ambulatory surgery centers, urgent care and imaging
centers and other care sites and clinics. We also operate Conifer
Health Solutions, which provides revenue cycle management and
value-based care services to hospitals, health systems, physician
practices, employers and other customers. Across the Tenet
enterprise, we are united by our mission to deliver quality,
compassionate care in the communities we serve. For more
information, please visit www.tenethealth.com.
This release contains “forward-looking statements” - that is,
statements that relate to future, not past, events. In this
context, forward-looking statements often address our expected
future business and financial performance and financial condition,
and often contain words such as “expect,” “anticipate,” “assume,”
“believe,” “budget,” “estimate,” “forecast,” “intend,” “plan,”
“predict,” “project,” “seek,” “see,” “target,” or “will.”
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Particular uncertainties that
could cause our actual results to be materially different than
those expressed in our forward-looking statements include, but are
not limited to, the factors disclosed under “Forward-Looking
Statements” and “Risk Factors” in our Form 10-K for the year ended
December 31, 2018, and subsequent Form 10-Q filings and other
filings with the Securities and Exchange Commission.
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Investor Contact Regina Nethery 469-893-6992
investorrelations@tenethealth.com
Media Contact Lesley Bogdanow 469-893-2640
mediarelations@tenethealth.com
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