![]() ![]() “Throughout the COVID pandemic, we have been reminded of the critical role caregivers play in the health and wellness of our patients and our communities. As integrated care institutions, Steward’s hospitals function on a community model, engaging with local employees and community groups as partners. Steward is committed to providing personalized, ongoing medical services that improve patients’ physical, emotional, and mental wellbeing. ![]() Tenet’s ambulatory facilities operated by United Surgical Partners International (USPI) in these markets will remain with Tenet and are not included in the transaction.įounded by Ralph de la Torre, MD, who grew up in Florida as the son of Cuban immigrants, Steward Health Care’s physician-controlled and -led model was built to unlock access to the highest-quality care at a sustainable cost. The agreement also provides that Tenet’s Conifer Health Solutions subsidiary will continue to provide revenue cycle management services to the five hospitals following completion of the transaction. The hospitals included in the sale are Coral Gables Hospital, Florida Medical Center, Hialeah Hospital, North Shore Medical Center and Palmetto General Hospital. Under the terms of the agreement, Steward will purchase five hospitals and their associated physician practices from Tenet for approximately $1.1 billion. The transaction is Steward’s first acquisition since finalizing full physician control and leadership of the organization in the summer of 2020. Today, Steward Health Care System, LLC (Steward) and Tenet Healthcare Corporation (NYSE: THC) announced that they have signed a definitive agreement regarding the acquisition by Steward of Tenet’s five hospitals and related hospital operations in the Miami-Dade and Southern Broward counties. Source: The Real Deal Aug/ 3 Comments / by admin Tags: 2001 west 68th street, 7100 west 20th avenue, 7160 west 20th avenue, coral gables hospital, edward k.Acquisition of Tenet hospitals and hospital-affiliated operations will bring greater access to high-quality care in South Florida It runs 60 hospitals and about 460 other healthcare facilities. Tenet, which is also publicly traded, is led by executive chair and CEO Ronald Rittenmeyer, according to its website. but it also has properties in the United Kingdom, Australia, Switzerland, Germany and elsewhere. The majority of its portfolio is in the U.S. Aldag Jr., is a hospital and medical office investor with $22.3 billion of assets under management, according to its website. The medical REIT is also planning to buy Hialeah Hospital, although public records do not yet show the purchase. ![]() This came on the heels of the group’s purchase of Florida Medical Center, three office buildings and FMC Medical Mall in Lauderdale Lakes for $171 million from a group of sellers that included Tenet. MPT already bought North Shore Medical Center near North Miami and Coral Gables Hospital in the Gables for a combined $276 million. The deal is part of MPT’s agreement with Tenet to buy five South Florida facilities and then lease them to Dallas-based Steward Health Care System, which purchased the hospitals’ operations and associated physician practices from Tenet, according to a news release. Some of the buildings that make up the hospital campus purchase are the Palmetto Medical Plaza at 7100 West 20th Avenue and the garage at 7160 West 20th Avenue as well as next-door physicians’ offices at 2001 West 68th Street and 2001 West 68th Street, records show. The Birmingham, Alabama-based real estate investment trust bought Palmetto General Hospital in Hialeah for $315 million from an affiliate of Dallas-based Tenet Healthcare, records show. Medical Properties Trust just closed on the fourth of the five hospitals it plans to acquire as part of a major expansion into South Florida healthcare totalling roughly $900 million. ![]()
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