Tenet sells off St. Louis University Hospital
When Tenet hands over ownership, the hospital will join nonprofit Catholic health system SSM Health.
Photo of St Louis University Hospital from Google Plus
For-profit giant Tenet Healthcare Corp. said it plans to sell the 365-bed St. Louis University Hospital to St. Louis University, ending a 17-year relationship where Tenet ran the hospital in partnership with the university.
Monetary terms of the deal, which is expected to close in the third quarter, were not announced.
Tenet purchased the hospital in 1998.
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When Tenet hands over ownership, the hospital will join nonprofit Catholic health system SSM Health, with the university retaining a minority interest in the hospital.
Tenet will continue to run the nearby Des Peres Hospital in west St. Louis County and the MedPost Urgent Care Center in Ellisville, Missouri.
The for-profit giant said it expects to take $150 million to $160 million charge in the second quarter related to the deal.
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