Novant Health to acquire three hospitals from Tenet Healthcare for $2.4B

Novant Health and Tenet Healthcare announced that they have signed a definitive agreement regarding the acquisition by Novant Health of three Tenet hospitals and affiliated operations in South Carolina. Under the terms of the agreement, Novant Health will purchase three hospitals, as well as associated physician practices and other related hospital operations from Tenet for approximately $2.4B. The transaction includes Hilton Head Hospital in Beaufort County, Coastal Carolina Hospital in Jasper County, and East Cooper Medical Center in Charleston County. The agreement also stipulates that Tenet’s Conifer Health Solutions subsidiary will provide expanded revenue cycle management services to the three hospitals following completion of the transaction. The transaction is expected to be completed early next year, subject to customary regulatory approvals, clearances, and closing conditions.