RTTNews | Dec 10, 2020 08:13AM EST

08:12 Thursday, December 10, 2020 (RTTNews.com) - Tenet Healthcare Corp. (THC) announced Thursday that it will acquire a portfolio of up to 45 ambulatory surgery centers (ASCs) from SurgCenter Development (SCD). The 45 centers are located in Arizona, Florida, Indiana, Louisiana, Maryland, Ohio, New Hampshire, Texas and Wisconsin.

Under the deal, Tenet will purchase majority interests in up to 45 centers by fully acquiring SCD's interests, and partially acquiring interests from physician partners, for approximately $1.1 billion in cash and the assumption of approximately $18 million of center-level debt.

The ASCs will be operated by Tenet's United Surgical Partners International (USPI) subsidiary as part of its industry-leading ambulatory surgery platform. USPI's ownership interest will be up to 60 percent in each center, with the remainder owned by physician partners.

Tenet has completed the acquisition of a majority of the 45 centers and expects to complete the acquisition of the remainder by the end of 2020, pending the finalization of documentation and the receipt of certain state approvals.

Read the original article on RTTNews ( https://www.rttnews.com/3152693/tenet-to-acquire-up-to-45-ambulatory-surgery-centers-from-surgcenter-development-quick-facts.aspx)

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