Tenet Healthcare Corp., Dallas, said it is selling two Philadelphia-area hospitals to a newly formed company whose leadership includes the longtime administrator of one of the facilities. Terms were not disclosed, but will be when the deal is completed, which is expected by June 30, Tenet said. Solis Healthcare is buying 137-bed Roxborough Memorial Hospital, Philadelphia, and 151-bed Warminster (Pa.) Hospital.
Solis is led by Robert Souaid and Jack Donnelly. Souaid has owned healthcare facilities in the southeastern U.S. and also has worked as a consultant on group-purchasing matters. Donnelly has been the chief executive officer of Roxborough for the past 17 years and has 35 years of healthcare experience in the Philadelphia area.
Roxborough and Warminster hospitals were among nine hospitals that Tenet slated for divestiture in June 2006. Only one hospitalLindy Boggs Medical Center, New Orleansremains from the 2006 divestiture plan, although two California hospitals from Tenets 2003 divesture plan have yet to be sold. Tenet owns or operates 62 hospitals, including five held for sale and two with leases that expire in August. -- by Vince Galloro