Dallas-based Tenet Healthcare Corp. has completed the sale of three hospitals to Nashville, Tenn.-based HCA Healthcare. The hospitals were sold for a reported $750 million in cash.
According to Tenet, all three acute-care hospitals are located in Houston. They are Cypress Fairbanks Medical Center, Houston Northwest Medical Center, and Park Plaza Hospital.
Under the sale’s terms HCA gets the hospitals and their related assets, including other healthcare facilities and physician practices. HCA will also manage the hospitals’ operations.
“We have the highest respect for HCA, and we are pleased that these facilities have become part of this regional system,” Tim Adams, CEO of Tenet’s Texas region, told D CEO Healthcare in a statement. “HCA shares Tenet’s commitment to delivering high-quality, patient-centered care, and we are confident this decision will preserve what’s best for these hospitals, along with the staff, physicians, and patients in the Houston community.”