United Surgical Partners International and United Urology Group signed an official agreement to form a joint venture partnership in 22 ASCs on June 21.
Dallas-based USPI will acquire a portion of Owings Mills, Md.-based United Urology Group's ownership interests in its established and new ASCs in Maryland, Colorado and Arizona, adding more than 140 urologists to USPI's urology service network.
The transaction is expected to close in the third quarter. Once completed, USPI will manage and jointly own the centers with United Urology Group and its affiliated practices.
"The partnership will add high-quality urology centers within our existing markets. We are honored to serve additional patients and support the growth of these ASCs," said Brett Brodnax, president and CEO of USPI, which is a subsidiary of Dallas-based Tenet Healthcare.
The centers will be included in Tenet Healthcare's financial statements.