Tenet Healthcare Corp.
THC,
said Friday it agreed to sell three hospitals and related operations in South Carolina for about $2.4 billion in cash to Novant Health. The deal’s after-tax proceeds are about $1.75 billion. Tenet Healthcare expects to close the transaction in the first quarter. The transaction includes Coastal Carolina Hospital, Hilton Head Hospital and East Cooper Medical Center. Tenet Healthcare will not sell its ambulatory facilities operated by United Surgical Partners Int. in the markets served by the three hospitals. The hospitals generated $552 million in revenue for the last 12 months ended Sept. 30. Tenet Healthcare’s stock is up 19.2% in 2023, compared with a 17.4% rise by the S&P 500 SPX.
