Dallas-based Tenet Healthcare has completed the sale of its 70% ownership of five hospitals in Alabama, South Florida Hospital News reported Oct. 1.
The transaction includes five hospitals: Brookwood Baptist Medical Center, Citizens Baptist Medical Center in Talladega, Princeton Baptist Medical Center in Birmingham, Shelby Baptist Medical Center in Alabaster, and Walker Baptist Medical Center in Jasper.
Tenet's subsidiary, Conifer Health Solutions, entered into a 10-year contract to provide comprehensive revenue cycle management services for the operations at these hospitals.
This comes after a wave of hospital sales by the healthcare giant earlier this year. Tenet sold off nine hospitals in California and South Carolina for a total of $3.9 billion and has been redirecting focus towards its ASC arm, United Surgical Partners International.