DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC) announced today that it has
completed the sale of its Philadelphia-area acute care hospitals and
related operations to American Academic Health System, LLC (AAHS), an
affiliate of Paladin Healthcare. Ownership and management of the
hospitals and related operations will transfer to AAHS on Thursday,
January 11, 2018 at 11:59 pm ET.
Tenet and Paladin Healthcare previously announced the transaction on
September 1, 2017. The facilities included in the sale are Hahnemann
University Hospital, St. Christopher’s Hospital for Children and other
hospital-affiliated entities, including physician practices. Tenet
received net pre-tax proceeds from the transaction of approximately
$152.5 million in cash and a secured promissory note for $17.5 million.
About Tenet Healthcare
Tenet Healthcare Corporation is a diversified healthcare services
company with 125,000 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.
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 development.
