Tenet and Duke LifePoint reach definitive agreement for the sale of Tenet's N.C. hospitals and related operations

DALLAS AND BRENTWOOD, TENN. – November 3, 2015 – Tenet Healthcare Corporation (NYSE:THC) and Duke LifePoint Healthcare have entered into a definitive agreement for the sale of Tenet’s North Carolina hospitals and related operations. The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to be completed between late in the fourth quarter to middle of the first quarter. “Tenet has long enjoyed serving the Sanford and Hickory communities through our network of trusted hospitals and caregivers,” said Keith Pitts, vice chairman of Tenet Healthcare. “As we evaluated strategic alternatives to ensure the long-term success of these operations, we chose Duke LifePoint because of their growing statewide network, impressive leadership teams and focus on quality and value.”   The facilities included in the sale are the 137-bed Central Carolina Hospital in Sanford and the 355-bed Frye Regional Medical Center in Hickory, as well as 19 physician practices.   “These hospitals will expand Duke LifePoint’s strong presence in North Carolina to nine facilities and provide enhanced services to meet the evolving needs of these two communities,” said William J. Fulkerson Jr., M.D., executive vice president of Duke University Health System. “Tenet and Duke LifePoint share a commitment to high-quality, patient-centered care, and we look forward to a seamless integration as we bring these facilities into our network.” Under ...
Source: DukeHealth.org: Duke Health Features - Category: Pediatrics Source Type: news