Tenet completes venture with Baylor Scott & White

Tenet Healthcare Corp. and Baylor Scott & White have closed on a deal to co-own five hospitals in northern Texas.

Dallas-based Baylor 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 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. —Michael Sandler

Revenue growth coupled with tight cost controls allowed separate not-for-profit hospital systems in North Carolina and Mississippi to post improved operating and net surpluses.

New Hanover Regional Medical Center in Wilmington, N.C., posted an operating surplus of $102.8 million on revenue of $821.4 million in the year ended Sept. 30, 2015, compared with in operating surplus of $63.9 million on revenue of $758.3 million in fiscal 2014.

The $63.1 million increase in revenue, an 8.3% gain, far exceeded the system's growth in operating expenses, which increased $24.2 million, or 3.6% from the prior year.

Delta Regional Medical Center in Greenville, Miss., kept a lid on its costs to post a 2015 operating surplus of $6.1 million compared with an operating surplus of $3 million in the prior year, audited financial statements show.

Its net surplus was $5.4 million on revenue of $126.1 million in fiscal 2015, ended Sept. 30, compared with a net surplus of $2.2 million on revenue of $123.3 million the prior year. Total operating expenses dipped to 90.4% of operating revenue for the year versus 92.3% last fiscal year. —Dave Barkholz