Tenet Healthcare Corporation (NYSE: THC) has entered into a definitive agreement with Adventist Health for the sale of two Tenet hospitals and related operations in San Luis Obispo County. The transaction will include Sierra Vista Regional Medical Center and Twin Cities Community Hospital, as well as affiliated physician practices and other related operations. The agreement is for approximately $550 million (after-tax proceeds of approximately $450 million). For the year ended December 31, 2023, the two hospitals and related operations included in the sale generated revenues of approximately $337 million, pre-tax income of approximately $25 million and Adjusted EBITDA of approximately $38 million, excluding depreciation and amortization expense of approximately $13 million.
Read the full article: Tenet to Sell Two Hospitals and Enter into a Revenue Cycle Services Partnership with Adventist Health //
Source: https://www.businesswire.com/news/home/20240228654980/en/Tenet-to-Sell-Two-Hospitals-and-Enter-into-a-Revenue-Cycle-Services-Partnership-with-Adventist-Health