Feb. 1 was a busy day for two of the nation's largest for-profit health systems.
Dallas-based Tenet Healthcare closed the sale of three hospitals and an agreement to sell four more while Nashville, Tenn.-based HCA Healthcare completed its purchase of a bankrupt Texas hospital.
Tenet completed the sale of three South Carolina hospitals to Winston-Salem, N.C.-based Novant Health in a $2.4 billion deal. The deal was first announced in November. As part of the deal, Tenet's Conifer Health Solutions subsidiary will enter into a new and expanded 15-year contract to provide revenue cycle management services for the three hospitals and related operations.
The hospitals changing hands in that deal are Mount Pleasant, S.C.-based East Cooper Medical Center, Hilton Head (S.C.) Hospital and Hardeeville, S.C.-based Coastal Carolina Hospital.
Tenet also reached a definitive agreement to sell four hospitals in Southern California and their associated outpatient locations to Orange, Calif.-based UCI Health for $975 million.
The deal is expected to close this spring and involves Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical Center and Placentia-Linda Hospital.
HCA subsidiary Medical City Healthcare in Dallas is now a 20-hospital system after completing its purchase of Trinity Regional Hospital Sachse (Texas), which filed for bankruptcy in 2023.
A bankruptcy judge approved the sale of the 3-year-old hospital to HCA in November after an auction. Trinity Regional Hospital Sachse's owner listed assets of $50 million to $100 million and liabilities of $100 million to $500 million on the bankruptcy petition.
The hospital was renamed Medical City Sachse and will operate as a campus of Medical City Plano (Texas), with "all current employees" transitioning to Medical City Healthcare.