Tenet Healthcare Reports Sale Of Its 70% Majority Ownership Interest In Brookwood Baptist Health In Birmingham To Orlando Health For $910M Cash
Portfolio Pulse from Benzinga Newsdesk
Tenet Healthcare (THC) has announced the sale of its 70% majority ownership interest in Brookwood Baptist Health to Orlando Health for $910 million in cash. The transaction includes five hospitals and affiliated operations, with after-tax proceeds of approximately $790 million. Tenet's Conifer Health Solutions will also enter a new ten-year contract for revenue cycle management services. The deal is expected to close in fall 2024, pending regulatory approvals.
August 05, 2024 | 10:47 am
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Tenet Healthcare (THC) has sold its 70% stake in Brookwood Baptist Health to Orlando Health for $910 million. The deal includes five hospitals and related operations, with after-tax proceeds of $790 million. Conifer Health Solutions will also enter a new ten-year contract for revenue cycle management services.
The sale will provide Tenet Healthcare with significant cash proceeds, which can be used to strengthen its balance sheet or invest in other areas. The new contract for Conifer Health Solutions also ensures a steady revenue stream. The overall impact is positive for THC in the short term.
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