Tenet completes $975M sale of California hospitals, ASCs

Dallas-based Tenet Healthcare, parent company of ASC giant United Surgical Partners International, has completed the sale of four hospitals and two ASCs in Southern California to UCI Health. 

Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical Center and Placentia-Linda Hospital are now a part of Orange, Calif.-based UCI Health, which is part of the University of California Irvine, according to a March 26 news release. 

The ASCs acquired by UCI Health are Pacific Endoscopy & Surgery Center in Mountain Valley and Reagan Street Surgery Center in Los Alamitos.

The deal is a part of Tenet's strategy to sell off hospitals. In February, Tenet inked a $550 million deal with Roseville, Calif.-based Adventist Health for the sale of two Tenet hospitals and related operations in California's San Luis Obispo County. Also in February, the company finalized the sale of three hospitals in South Carolina to Winston-Salem, N.C.-based Novant Health for $2.4 billion. 

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