DALLAS---Baylor Scott & White Health and Tenet Healthcare Corporation (NYSE:THC) announced today that they have reached a definitive agreement to sell Baylor Scott & White Medical Center – White Rock, a 218-bed hospital located in Dallas, Texas, to Pipeline Health, LLC.
Baylor Scott & White Medical Center – White Rock is part of a joint venture partnership with Baylor Scott & White Health, in which Tenet is the minority owner. The transaction is expected to be completed in the first quarter of 2018, subject to regulatory approvals and customary closing conditions.
About Baylor Scott & White Health
Formed from the 2013 merger between Baylor Health Care System and Scott & White Healthcare, the system referred to as Baylor Scott & White Health is the largest not-for-profit health care system in the state of Texas. With total assets of $10.8 billion* and serving a population larger than the state of Georgia, Baylor Scott & White Health has the vision and resources to provide its patients continued quality care while creating a model system for a dramatically changing health care environment. The system now includes 48 hospitals, more than 1,000 access points, 5,500 active physicians, and 44,000 employees, plus the Scott & White Health Plan, Baylor Scott & White Research Institute and Baylor Scott & White Quality Alliance — a network of clinical providers and facilities focused on improving quality, managing the health of patient populations, and reducing the overall cost of care. For more information visit: bswhealth.com
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 general acute care and specialty hospitals, ambulatory surgery centers, urgent care centers and other outpatient facilities in the United States and 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.
About Pipeline Health
Pipeline Health is an innovative hospital management company with a proven track record of providing high quality healthcare at health systems nationwide. With a unique base of experience spanning the entire clinical eco-system, Pipeline’s unique perspective allows it to craft strategies specific to the local dynamics of the communities it serves. Pipeline’s goal is to maximize access to the highest quality care and deliver it cost effectively with a focus on customer service and clinical excellence.
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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