Tenet Announces Definitive Agreement with Loyola Medicine Regarding the Sale of MacNeal Hospital and Related Operations
October 11 2017 - 11:00AM
Business Wire
Tenet Healthcare Corporation (NYSE:THC) announced today that it
has reached a definitive agreement with Loyola Medicine (“Loyola”),
an affiliate of Trinity Health, under which Loyola will purchase
MacNeal Hospital – which is located in a suburb of Chicago – as
well as other operations affiliated with the hospital. The
affiliated operations include local Tenet-owned physician
practices; the Chicago Health System (“CHS”), an independent
practice association of nearly 1,000 physicians; and the associated
CHS accountable care organization. Under the terms of the
agreement, MacNeal and these related operations will be added to
the Loyola Medicine regional health system, which serves the west,
south and southwest suburbs of Chicago.
The transaction is expected to be completed in the first quarter
of 2018, subject to regulatory approvals and customary closing
conditions.
About Tenet Healthcare
Tenet Healthcare Corporation is a diversified healthcare
services company with nearly 130,000 employees united around a
common mission: to help people live happier, healthier lives.
Through its subsidiaries, partnerships and joint ventures,
including United Surgical Partners International, the company
operates 77 general acute care hospitals, 20 short-stay surgical
hospitals and over 460 outpatient centers in the United States, as
well as nine facilities in the United Kingdom. Tenet’s Conifer
Health Solutions subsidiary provides technology-enabled performance
improvement and health management solutions to hospitals, health
systems, integrated delivery networks, physician groups,
self-insured organizations and health plans. For more information,
please visit www.tenethealth.com.
The terms “THC”, “Tenet Healthcare Corporation”, “the company”,
“we”, “us” or “our” refer to Tenet Healthcare Corporation or one or
more of its subsidiaries or affiliates as applicable.
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,” “assume,” “anticipate,”
“intend,” “plan,” “believe,” “seek,” “see,” 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, 2016 and other filings with the Securities and
Exchange Commission.
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Tenet Healthcare CorporationInvestor Contact:Brendan
Strong, 469-893-6992investorrelations@tenethealth.comorMedia
Contact:Lesley Bogdanow,
469-893-2640mediarelations@tenethealth.com
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