Many residents were caught off guard last week when Tenet Healthcare announced they had agreed to sell four hospitals, essentially its Pacific Coast network of medical centers for $975 million UCI Health,
Los Alamitos Medical Center, located on Katella Ave., is one of the hospitals included in the transaction.
This week UCI confirmed the purchase and began to answer some of the questions surrounding the acquisition in a statement issued by a team of UCI officials, including Howard Gillman, Chancellor of the UC Irvine system.
The Regents of the University of California, on behalf of the University of California, Irvine, has entered into a definitive agreement with Tenet Healthcare Corporation (NYSE: THC) to acquire Tenet’s Pacific Coast Network. The network will become part of UCI Health, the clinical enterprise of UC Irvine, it said in the statement.
“UC Irvine has deepened its healthcare commitment to the future of Orange County, our region and California,” said Gillman.
“This journey in healthcare is deeply intertwined with the University of California’s dedication to bettering our communities, expanding access to premier healthcare, and pioneering the medical innovations of tomorrow, today. Our vision will bridge gaps in regional care and reinforce UCI’s place among the nation’s leading academic health systems while advancing solutions to challenges facing healthcare,” he added.
Pending customary regulatory approvals, clearances, and closing conditions, the proposed acquisition should bring four medical centers in Lakewood, Los Alamitos, Fountain Valley and Placentia and associated outpatient locations into the UCI Health system, the Chancellor said.
UCI Health currently delivers care at UCI Medical Center in Orange and a growing network of multispecialty care centers.
“At UCI Health, we are excited to add these new care sites to the UCI Health network and extend the benefits of our compassionate, high-level care, clinical innovation, and scientific discovery,” said Chad Lefteris, president and chief executive officer of UCI Health.
“As Orange County’s only academic health system, UCI Health is unique in its ability to offer the highest level of advanced care powered by the research and innovation of a world-class public research institution,” he added.
The officials said UCI Health recognizes a unique opportunity to build on the quality care already being delivered in the communities served by Tenet Healthcare’s Pacific Coast Network.
“These four hospitals are well-regarded in their communities for providing high-quality, compassionate care,” said Saum Sutaria, M.D., chairman and chief executive officer of Tenet Healthcare. “The local communities will benefit from the nationally recognized advancements, medical knowledge, research, and community focus that UCI Health brings as an innovative academic health system. UCI Health recognizes a unique opportunity to build on the quality care already being delivered in the communities served by the Pacific Coast Network,” said Sutaria.
In a region with a population greater than that of two dozen states, UCI Health operates the only Level I trauma center, locally based National Cancer Institute-designated comprehensive cancer center, high-risk perinatal-neonatal service and is the largest regional burn center and leading provider of complex tertiary and quaternary care.
The system’s clinical excellence has consistently placed UCI Health in the top 10 for quality and safety among the nation’s leading comprehensive academic health systems.
The acquisition also means more patients will have access to advanced therapies in the region’s largest and most diverse portfolio of clinical trials, ranging from cancer to neurosciences, digestive diseases, orthopedics and internal medicine specialties, UCI said in the statement.
UCI Health and Tenet Healthcare’s Pacific Coast Network patients can continue receiving care at their local facilities as they normally would from the care teams they know and trust. The transaction is expected to be completed in spring 2024, subject to customary regulatory approvals, clearances, and closing conditions.
“It is a privilege to provide world-class care to Californians and we are excited to welcome the clinicians and co-workers from these Tenet Healthcare sites to UCI Health as partners in improving the health of local communities,” Lefteris said.
The ENE will continue to monitor the story and bring our readers the latest updates as they become available.