WellStar Health System has signed a definitive agreement to buy Tenet Healthcare’s five metro Atlanta hospitals for $575m.
The agreement includes North Fulton Hospital, Spalding Regional Hospital, Sylvan Grove Hospital, Atlanta Medical Center and its South Campus.
Following the conclusion of the due diligence period, the WellStar board of trustees approved the strategic transaction.
The acquisition will help WellStar expand its proven clinical care models and patient safety programmes that resulted in increased quality and improved access to healthcare in communities.
WellStar will also acquire complimentary physician practices owned by Tenet. The facilities include 1,192 licensed hospital beds supported by 4,300 team members and a medical staff of 1,390 physicians and advanced practice professionals.
WellStar Health System president Candice Saunders said: "Through our compassionate and skilled caregivers, WellStar serves the healthcare needs of a diverse, growing population.
"These strategic moves are a continuation of our mission to improve the health and wellbeing of our communities.
"WellStar will be better suited to address changes in the healthcare industry."
WellStar will assume $86m in debt related to the lease of North Fulton Hospital.
Tenet Healthcare vice-chairman Keith Pitts said: "Since we began exploring the sale of our Atlanta facilities, we sought an operator with the leadership and capability to continue delivering high-quality care for many years to come.
"We have a deep respect for WellStar’s commitment to the Atlanta community and its people.
"We are pleased our people and operations are joining a network with a shared vision to continuously improve healthcare and invest in its system’s growth."
On completion of the acquisition, which will be submitted to the Federal Trade Commission for review, the Tenet facilities will become not-for-profit entities within WellStar.
In November, West Georgia Health’s (WGH) board of trustees voted to join WellStar.
WGH, which employs 50 physicians and more than 1,300 team members, operates West Georgia Medical Center, a 276-bed hospital in LaGrange, as well as two long-term care facilities.
Image: The Tenet facilities includes 1,192 licensed hospital beds over five metro Atlanta hospitals. Photo: courtesy of WellStar Health System.