Dallas-based Tenet Healthcare will sell its urgent care business to FastMed Urgent Care, the companies said Dec. 18.
Under the deal, FastMed will acquire all 87 urgent care centers from Tenet, which operate under the CareSpot and MedPost brands. The centers are managed by Tenet's United Surgical Partners International subsidiary.
The deal, subject to regulatory approval, is expected to be completed in the first quarter of 2021.
"We have tremendous respect for FastMed and are pleased that our facilities will become part of this strong and growing urgent care business, while also enabling Tenet and USPI to sharpen our focus on the continued growth and expansion of ambulatory surgical services. We are confident our urgent care centers will continue to thrive under FastMed’s leadership," said Ron Rittenmeyer, executive chair and CEO of Tenet.
FastMed has 104 urgent care locations in North Carolina, Arizona and Texas. The transaction will allow FastMed to expand its presence in Arizona and Texas, while also entering new markets of Florida and California, where most of Tenet's urgent care centers are located.
Read the full news release here.