Here are three healthcare stories from the last week that ASC leaders should know:
Dallas-based Tenet Healthcare, parent company of the country's largest ASC chain, United Surgical Partners International, inked a deal to sell three hospitals in South Carolina to Winston-Salem, N.C.-based Novant Health for $2.4 billion. The acquisition includes Coastal Carolina Hospital in Hardeeville, Hilton Head Hospital in Hilton Head Island and East Cooper Medical Center in Mount Pleasant.
Tenet's ASCs in the market will remain operated by USPI. Under the agreement, Novant and USPI will also enhance their ASC partnership to increase access to care. The transaction is expected to be complete in the first quarter of 2024, subject to regulatory approvals.
USPI is a major focus for Dallas-based Tenet's growth. The company said at the beginning of the year it would invest approximately $250 million annually into its ASC business.
Tenet also made headlines after the Federal Trade Commission sued to block its $142.5 million sale of San Ramon (Calif.) Regional Medical Center to John Muir Health.
The FTC alleges the deal would drive up healthcare costs and would eliminate competition between John Muir and San Ramon Regional.
John Muir Health, which has held a 49 percent stake in the hospital since 2013, would acquire the remaining 51 percent interest from Tenet under the proposed deal.
ASCs have been eyeing the growing list of hospitals closing or cutting service lines as it could be an opportunity for growth. Most recently, Southwest Healthcare's Palmdale (Calif.) Regional Medical Center suspended maternity services and laid off 87 employees.
The 184-bed hospital cited lower-than-expected patient volumes, which resulted in the Oct. 30 closure, and plans to convert it into a medical-surgical unit.