DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE: THC), Pipeline Health LLC, a
national operator of hospitals and other healthcare facilities, and TWG
Partners, LLC, a Chicago-based healthcare investment firm founded by
Eric E. Whitaker, MD, MPH, have entered into a definitive agreement
regarding the sale of Tenet’s remaining acute care hospitals in the
Chicago area.
The facilities included in the sale are Louis A. Weiss Memorial
Hospital, Westlake Hospital and West Suburban Medical Center, as well as
other local operations affiliated with the hospitals. The transaction is
expected to be completed in the fourth quarter of 2018, subject to
regulatory approvals and customary closing conditions. Pipeline Health
will manage the hospitals upon completion.
About Tenet Healthcare
Tenet Healthcare Corporation is a diversified healthcare services
company with 115,000 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.
About Pipeline Health
Pipeline Health, LLC 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.
About TWG Partners
TWG Partners, LLC was formed by Eric E. Whitaker, MD, MPH in November
2011 for the purpose of advancing the ownership and development of
health-related technology and services companies for the Medicaid,
Medicare and Dual-Eligible populations. Over the past five years, TWG
helped co-found two health insurance companies (Symphonix Health and
Next Level Health Partners, LLC), in addition to investing in other
existing healthcare companies. TWG is an African American-owned,
qualified minority business enterprise (“MBE”). Mr. Whitaker previously
served as Executive Vice President and Associate Dean of the University
of Chicago Medical Center and also as Director of the Illinois
Department of Public Health.
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,” “estimate,” “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, 2017, and subsequent Form 10-Q filings and other
filings with the Securities and Exchange Commission.
Tenet uses its company website to provide important information to
investors about the company including the posting of important
announcements regarding financial performance and corporate developments.
