Tenet announces sale of seven hospitals in South Carolina and California
Novant Health bought three for $2.4B and UCI Health has agreed to pay $975M for four.
February 2, 2024 – Susan Morse, Executive Editor –
Tenet Healthcare Corporation announced yesterday that it has completed the sale of three of its hospitals in South Carolina to Novant Health for approximately $2.4 billion.
It has also entered into a definitive agreement with UCI Health for the sale of four Tenet hospitals and related operations in Orange County and Los Angeles County, California for approximately $975 million in cash.
These transactions will also support Tenet’s objective of reducing leverage, the company said.
WHY THIS MATTERS
Tenet completed the sale of its three South Carolina hospitals and related operations to Novant for approximately $2.4 billion in cash (after-tax proceeds of approximately $1.750 billion).
The hospitals include Coastal Carolina Hospital, Hilton Head Hospital, East Cooper Medical Center, affiliated physician practices and other related hospital operations.
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