Tenet Healthcare Corporation (NYSE:THC) and St. Luke’s Hospital, an independent, nonprofit healthcare provider in Chesterfield, Mo., announced today that they have entered into a definitive agreement for St. Luke’s to purchase Des Peres Hospital as well as Tenet-owned physician practices and other hospital-affiliated operations in St. Louis.
'In identifying a new owner for Des Peres Hospital as part of ongoing changes to our network, we have focused on securing the hospital’s long-term sustainability for the benefit of its patients, employees and the physicians who practice there,' said Ron Rittenmeyer, executive chairman and CEO of Tenet Healthcare. 'St. Luke’s Hospital shares Tenet’s commitment to providing patients with high quality care and the best patient experience possible. We believe that St. Luke’s will complement and enhance Des Peres’ position within the St. Louis community, which the hospital has proudly served for more than 40 years.'
'We are excited to welcome Des Peres Hospital to the St. Luke’s family, as we bring together two hospitals with talented care teams and a shared vision for providing the highest quality patient care,' said Christine M. Candio, RN, FACHE, St. Luke’s Hospital president and chief executive officer. 'By aligning the community and patient-focused values of both hospitals, we will create an even stronger healthcare network prepared to serve our patients far into the future.'
The transaction is expected to be completed early this year, subject to regulatory approvals and customary closing conditions.
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