Reviewed by: Nathan Watson
Tenet Healthcare to sell Brookwood Baptist Health to Orlando Health
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Tenet Healthcare Corporation is selling its 70% majority ownership interest in Brookwood Baptist Health to Orlando Health for approximately $910 million in cash (after-tax proceeds of approximately $790 million).
The announcement was made today via a Tenet Healthcare news release.
Five Brookwood Baptist Health hospitals
The massive transaction includes five Birmingham area hospitals.
They are:
- Brookwood Baptist Medical Center
- Princeton Baptist Medical Center
- Walker Baptist Medical Center
- Shelby Baptist Medical Center
- Citizens Baptist Medical Center
The agreement also includes affiliated physician practices and other related operations.
Transaction expects to be completed fall of 2024
Brookwood Baptist Health will remain a joint venture with Baptist Health System.
“We are grateful for the partnership with Baptist Health System, which has enabled us to collectively enhance the high-quality, compassionate care that Brookwood Baptist Health offers.
Orlando Health is an esteemed, high-performing healthcare organization with an over a century-long commitment to improving the health and wellness of the communities they serve. Integration of these hospitals into their network will advance healthcare for the greater Birmingham communities.”
Saum Sutaria, M.D., Chairman and CEO, Tenet Healthcare
Tenet expects the transaction to be completed in the fall of 2024, subject to regulatory approvals.
Changes in Birmingham healthcare
This is the second major hospital transaction this summer in the Birmingham Metro area. In June, the University of Alabama System Board of Trustees approved an agreement to assume ownership of Ascension St. Vincent’s Health System in Central Alabama.
Do you use Brookwood Baptist Health? Tell us what you think of this major transaction on social media by tagging us at @bhamnow!
