Tenet Inks $550M Deal to Sell Two Hospitals and Enter into a Revenue Cycle Services Partnership with Adventist Health
Portfolio Pulse from Benzinga Newsdesk
Tenet Healthcare Corporation (THC) has agreed to sell two hospitals in San Luis Obispo County to Adventist Health for approximately $550 million. Additionally, Tenet's Conifer Health Solutions will provide revenue cycle services to Adventist Health. The sale includes Sierra Vista Regional Medical Center and Twin Cities Community Hospital, along with affiliated physician practices.

February 29, 2024 | 11:46 am
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Tenet Healthcare Corporation is selling two hospitals to Adventist Health for $550 million and entering a service partnership through its subsidiary.
The sale of two hospitals for $550 million is a significant transaction for Tenet Healthcare, likely to positively impact its financials in the short term due to the influx of cash. Additionally, the partnership for revenue cycle services through its Conifer Health Solutions subsidiary could lead to sustained revenue streams and operational synergies. This combination of immediate financial benefit and strategic partnership is likely to be viewed positively by investors, potentially leading to a short-term uptick in THC's stock price.
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