Tenet Healthcare Corp. announced a sale of several of its hospitals and a new deal with an insurance provider.
Dallas-based Tenet said that it will sell three of its Houston hospitals to Nashville, Tenn.-based HCA Holdings for about $725 million. The transaction is expected to close in the third quarter of 2017.
At the same time, Tenet also announced it has reached a new, multi-year agreement with Louisville, Ky.-based insurance provider Humana.
According to Tenet, all of its hospitals, hospital-affiliated outpatient centers, and employed physicians will be phased back into the insurer’s network between June and October 2017.
Trevor Fetter, chairman and CEO of Tenet, said the company has taken a number of strategic actions, including, but not limited to, various transactions and divestitures that announced and completed over the past several months.