By Dave Muoio, March 27, 2024
Tenet Healthcare has wrapped up its deal to sell four hospitals and their related outpatient sites to UCI Health, according to a Wednesday announcement academic system.
The four hospitals—Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical and Placentia-Linda Hospital—are all located in California’s Orange County and Los Angeles County and combine for 858 inpatient beds.
The hospitals and the associated locations generated about $1 billion of revenue during 2023 and delivered pre-tax income of about $29 million, for-profit Tenet said in February when first disclosing the $975 million deal. The company will also continue providing revenue cycle management services through its Conifer subsidiary.
In its announcement, UCI Health said the acquisitions will help meet the “continually increasing demand for inpatient beds for a range of intensive and critical care needs” that until now was being met by its flagship, 459-bed UCI Medical Center.
