OrthoNeuro Corp., Charlotte, N.C., is expanding beyond surgical hospitals into acute-care hospitals with an agreement to buy a Houston hospital from Tenet Healthcare Corp., Santa Barbara, Calif. OrthoNeuro also is changing its name to Hospital Partners of America (HPA), reflecting the company's expanded focus and its strategy of partnering with physicians, HPA said. The company and Tenet signed a definitive agreement for HPA to purchase two-campus Twelve Oaks Medical Center for $25 million, Tenet said. Physicians will have a stake in the hospital when the deal closes, HPA said. HPA was founded in 2002 and operates one facility, Austin (Texas) Surgical Hospital. With the agreement for Twelve Oaks, Tenet has sales pending for 11 of the 14 hospitals it slated for divestiture in March. Net proceeds of the sales are expected to be about $630 million, Tenet said. Two of the hospitals have closed. Tenet is still seeking a buyer for the remaining hospital. The company owns and operates 112 hospitals, including those it has agreed to sell. -- by Vince Galloro
Firm to enter acute care by buying Tenet hospital
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