US-based Tenet Healthcare has completed the sale of its six hospitals and related operations in California to UCI and Adventist.  

The first transaction, which was first announced in February 2024, involved the sale of four hospitals in Orange and Los Angeles counties to UCI Health, following the approval of the University of California Board of Regents.  

The sale encompasses Lakewood Regional Medical Center, Los Alamitos Medical Center, Fountain Valley Regional Hospital, and Placentia-Linda Hospital, along with their associated operations. 

The all-cash deal with UCI Health is valued at approximately $975m, with Tenet expecting after-tax proceeds to be nearly $800m.  

Apart from the sale of these four hospitals to UCI Health, Tenet also finalised the sale of its two San Luis Obispo hospitals, including the 162-bed Sierra Vista Regional Medical Center and the 122-bed Twin Cities Community Hospital, to Adventist Health.  

This sale transaction also includes the transfer of related operations such as physician practices and imaging centres. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Following the deal’s completion, the former Sierra Vista Regional Medical Center and Twin Cities Community Hospital were renamed as Adventist Health Sierra Vista and Adventist Health Twin Cities, respectively.  

These facilities, with effect from 29 March 2024, have commenced operations as part of Adventist Health’s Central Coast Service Area business.  

In addition, Adventist stated that Eleze Armstrong will assume the role of interim CEO for the newly acquired Adventist Health Twin Cities and Adventist Health Sierra Vista. 

Armstrong had previously served as chief operating officer for Sierra Vista Regional Medical Center and was also working as the CEO of Twin Cities Community Hospital.  

Adventist Health has further assured that the transition will not impact current patients, with all insurance plans being accepted and access to care continuing without disruption. 

This development follows nearly a month after Tenet announced its initial agreement with Adventist to sell the two San Luis Obispo hospitals. 

The transaction with Adventist is valued at around $550m.