Tenet Healthcare Corp., headquartered in Dallas, is selling four hospitals in Southern California to UCI Health in a $975 million cash deal as part of its plan to pay down debt, a leading Texas newspaper has reported.
According to the report, written by the Dallas Morning News health care reporter Marin Wolf, the Farmers Branch-based company’s sale includes Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical, Placentia-Linda Hospital, and related operations. The hospitals are located in Orange and Los Angeles counties.
UCI Health is the clinical enterprise of the University of California, Irvine. The UCI Medical Center — the primary teaching location for the UCI School of Medicine — is a 459-bed acute care hospital.
Tenet, one of the largest investor-owned hospital companies in the country, estimates after-tax proceeds of about $800 million after the transaction is complete in the spring of 2024. Its subsidiary, Conifer Health Solutions, will continue to provide revenue cycle management through the transition.
The Event News Enterprise has reached out for comment on the report to local officials at Los Alamitos Medical Center in an effort to determine what impact, if any, the sale will have on Los Al Medical Operations.
ENE will also reach out to UCI Health as well and will follow up with the report next week.
