Tenet Healthcare Corp. and Baylor Scott & White have closed on a deal to co-own five hospitals in northern Texas.
Baylor, based in Dallas, has become the majority owner of Centennial Medical Center in Frisco, Doctors Hospital at White Rock Lake in Dallas, Lake Point Medical Center in Rowlett, Texas Regional Medical Center at Sunnyvale and Baylor Scott & White Medical Center-Garland. Four of the hospitals are currently owned by Tenet. The facilities will operate under the Baylor Scott & White brand.
The deal is the latest in a slew of partnerships that Tenet has forged with not-for-profit health systems to jointly own and operate hospitals as it seeks to form integrated delivery networks in core markets.
“Together, we will advance and strengthen the population health model in the greater Dallas area by creating a strong network to improve the well-being of people in our communities,” said Joel Allison, CEO of Baylor Scott & White Health, in a news release.
As part of the deal, physicians, advanced-practice providers and other employees at Tenet's North Texas physician group will switch to Baylor Scott & White's physician group, HealthTexas Provider Network.
It's been a busy week for Tenet, which this week announced another joint venture with Duke LifePoint Healthcare to purchase two community hospitals in North Carolina from Tenet. Duke LifePoint acquired 137-bed Central Carolina Hospital in Sanford and Frye Regional Medical Center in Hickory. Terms of that deal were not disclosed.
And in a proposed deal announced Dec. 1, WellStar Health System announced it will acquire five hospitals in Georgia from Tenet in a deal valued at $661 million. That deal is expected to close by the end of March.
Baylor Scott & White Health continues to expand its reach in Texas. In August, it opened a 46-bed acute-care hospital in Marble Falls, , which is the town's first hospital.
