Tenet Healthcare, a company based in Dallas, has recently announced the sale of its 70% majority ownership stake in Brookwood Baptist Health, located in Birmingham, Alabama. The buyer is Orlando Health and the deal is estimated to be worth around $910 million paid in cash.
The agreement includes five hospitals with a combined capacity of over 1,700 beds as well as affiliated physician practices and other related operations. These include Brookwood Baptist Medical Center (located in Birmingham), Princeton Baptist Medical Center (also located in Birmingham), Walker Baptist Medical Center (in Jasper), Shelby Baptist Medical Center (in Alabaster) and Citizens Baptist Medical Center (in Talladega).
As part of this proposed transaction, Tenet’s management arm Conifer Health Solutions will enter into a contract for ten years to provide services for these Alabama hospitals and their related operations.
In addition to this deal with Orlando Health, Tenet also operates more than 535 ambulatory surgery centers and surgical hospitals along with 52 other hospitals. They also have approximately 160 outpatient centers and other care facilities under their management.
Orlando Health’s system currently consists of seventeen hospitals along with ten free-standing emergency rooms. They are also developing four additional hospital locations along with six new free-standing emergency rooms.
