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Tenet to sell five Brookwood Baptist Health hospitals for $910 million
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Tenet to sell five Brookwood Baptist Health hospitals for $910 million
Aug 5, 2024 5:14 AM

Aug 5 (Reuters) - Tenet Healthcare ( THC ) will sell its

majority ownership in Brookwood Baptist Health in Birmingham,

Alabama, for about $910 million to not-for-profit healthcare

organization Orlando Health, the U.S. hospital operator said on

Monday.

The sale of its 70% interest includes five hospitals as well

as affiliated physician practices and other related operations.

Tenet expects to record a pre-tax gain of about $375 million

from the transaction, likely to be completed in the fall of

2024.

The company had in 2015 signed an agreement with Baptist

Health System to gain access to Shelby Baptist, Citizens

Baptist, Princeton Baptist, and Walker Baptist medical centers

as well as 77 primary and specialty care clinics.

Brookwood Baptist Health will remain a joint venture with

Baptist Health System, Tenet added.

Tenet's Conifer Health Solutions unit will enter into a new

and expanded 10-year contract to provide management services for

Birmingham hospitals and related operations as part of the deal.

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