WellStar Health System has signed a definitive agreement to purchase Dallas, Texas-based Tenet Healthcare’s five metro Atlanta hospitals. The WellStar Board of Trustees approved the strategic move following the conclusion of the due diligence period.
WellStar will acquire North Fulton Hospital, Spalding Regional Hospital, Sylvan Grove Hospital, Atlanta Medical Center and its South Campus, as well as Tenet’s complimentary physician practices in Atlanta. In all, the Tenet facilities include 1,192 licensed hospital beds supported by approximately 4,300 team members and a medical staff of 1,390 physicians and advanced practice professionals. In addition to the $575 million acquisition, WellStar will assume $86 million in debt related to the lease of North Fulton Hospital.
Following the purchase, the Tenet facilities will become not-for-profit entities within WellStar.
Earlier in November, West Georgia Health’s (WGH) Board of Trustees in LaGrange, Ga. voted to join WellStar. West Georgia Health operates West Georgia Medical Center, a 276-bed hospital in LaGrange, as well as two long-term care facilities, hospice and home care, among other services. WGH employs 50 physicians and more than 1,300 team members.
The purchase of the Tenet facilities will be submitted to the Federal Trade Commission for review. The WGH and WellStar partnership requires the approval of the Georgia Attorney General following a public hearing process.