DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC) has completed the sale of its
five Atlanta-area hospitals and related operations to WellStar Health
System in exchange for $575 million in cash, with an effective date of
March 31, 2016. As part of the transaction, Tenet will retain certain
net working capital accounts and WellStar will assume certain capital
leases related to the operation of the acquired facilities.
Tenet and WellStar previously announced the planned transaction on
December 1, 2015, which includes Atlanta Medical Center and its South
Campus, North Fulton Hospital, Spalding Regional Hospital, Sylvan Grove
Hospital and 26 physician clinics.
About Tenet Healthcare
Tenet Healthcare Corporation is a diversified healthcare services
company with 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 79 general acute care hospitals, 20
short-stay surgical hospitals and over 470 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.
