Tenet Healthcare Corp. has recently announced a definitive agreement to sell its 70% majority ownership interest in Brookwood Baptist Health to Orlando Health for approximately $910 million in cash. This sale involves five Birmingham-area hospitals, including Brookwood Baptist Medical Center, Princeton Baptist Medical Center, Walker Baptist Medical Center, Shelby Baptist Medical Center, and Citizens Baptist Medical Center.
Orlando Health, a private, not-for-profit healthcare organization, will manage the day-to-day operations of Brookwood Baptist Health in partnership with Baptist Health System, which will remain in the partnership and continue as a faith-based organization. The system will be renamed Baptist Health following the closing of the transaction.
Thibaut van Marcke, currently serving as senior vice president of Orlando Health Southeast Region, will lead Orlando Health in Alabama. The transaction is expected to be completed in the fall, pending regulatory approvals and closing conditions.
As part of the deal, Tenet’s Conifer Health Solutions subsidiary will enter into a new 10-year contract to provide revenue cycle management services for the hospitals. Both companies expressed excitement about the partnership, with Tenet Healthcare CEO Saum Sutaria highlighting Orlando Health’s reputation as a high-performing healthcare organization.
Orlando Health CEO David Strong emphasized the company’s commitment to advancing healthcare in the greater Birmingham communities and extending the healing ministry of Christ through the acquisition of Brookwood Baptist Health. The healthcare system consists of five hospitals, over 70 primary and specialty care clinics, more than 1,500 affiliated physicians, and over 7,300 employees.
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