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Tenet drops plan to sell Memphis hospitals
The FTC sued to block the $350 million deal last month, saying it would reduce competition.
Tenet Healthcare s headquarters are next to the Dallas North Tollway.(Jeffrey McWhorter / Special Contributor)
Tenet Healthcare said Wednesday that it has dropped its plans to sell two Memphis hospitals to Methodist Le Bonheur Healthcare.
In November, the Federal Trade Commission sued to block the $350 million deal, which had been announced last year and included Tenet’s Saint Francis Hospitals in Memphis and Bartlett, physician practices associated with the hospitals and six MedPost urgent care centers, according earlier documents filed by Tenet.
Methodist Le Bonheur Healthcare & Saint Francis Hospitals merger is off
According to statements from both hospital systems, they said together they have decided they will no longer pursue the sale. Author: Local 24 Staff (Local 24) Published: 10:25 AM CST December 23, 2020 Updated: 6:19 PM CST December 23, 2020
MEMPHIS, Tenn. Methodist Le Bonheur Healthcare and Saint Francis Hospitals will no longer merge in the Mid-South.
According to statements from both hospital systems, they said together they have decided they will no longer pursue the sale.
You can read the full statements below:
Michael Ugwueke, CEO, Methodist Le Bonheur Healthcare:
“Methodist Le Bonheur Healthcare and Tenet have made the decision to continue to operate MLH and Saint Francis hospitals as separate health entities.