Farmers Branch-based Tenet Healthcare is offloading dozens of urgent care centers as it focuses on expanding its ambulatory surgical services.
In a deal expected to close in the first quarter of 2021, Tenet will sell 87 of its urgent care centers to FastMed for a $80 million, according to a release from the company. There are a “handful” of Tenet-owned urgent care centers not included in the deal, according to Tenet spokesperson Lesley Bogdanow.
“We have tremendous respect for FastMed and are pleased that our facilities will become part of this strong and growing urgent care business, while also enabling Tenet and USPI to sharpen our focus on the continued growth and expansion of ambulatory surgical services. We are confident our urgent care centers will continue to thrive under FastMed’s leadership,” Tenet CEO Ron Rittenmeyer said in a statement.
Tenet recently announced what it described as a “transformational” deal for its United Surgical Partners International ambulatory business to acquire a portfolio of 45 surgery centers from SurgCenter Development for $1.1 billion. That deal is expected to be completed before the end of 2020, and it will position Tenet to derive more profit from less capital-intensive, lower cost-of-care settings.
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North Carolina-based FastMed operates more than 100 urgent care clinics in North Carolina, Arizona and Texas providing acute and preventive care services.
“We are excited to expand the reach of our services through the acquisition of CareSpot and MedPost’s highly regarded urgent care centers, and bring our unique model of high-quality, convenient, affordable and compassionate care to more communities in our existing states, as well as in new ones,” FastMed CEO Web Golinkin said in a statement.
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December 19, 2020 at 12:47AM
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Tenet to sell 87 urgent care centers to FastMed for $80 million as it focuses on ambulatory services - The Dallas Morning News
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