Tenet Healthcare Corporation (NYSE:THC) has officially completed the sale of six of its hospitals across California, along with their related operations.
This strategic divestiture aligns with terms previously disclosed by the healthcare giant, marking a pivotal shift in its portfolio within the state.
The transaction sees the transfer of four hospitals from Tenet's roster in Orange and Los Angeles Counties to UCI Health, following the green light from the University of California Board of Regents.
The facilities making the transition to UCI Health include Fountain Valley Regional Hospital, Lakewood Regional Medical Center, Los Alamitos Medical Center, and Placentia-Linda Hospital.
Additionally, Tenet has finalized the sale of its two hospitals in San Luis Obispo to Adventist Health.
This part of the transaction encompasses Sierra Vista Regional Medical Center and Twin Cities Community Hospital, alongside their associated operations.
This series of divestitures by Tenet Healthcare is indicative of the company's ongoing strategic reevaluation and optimization of its hospital network.