Tenet Healthcare Acquires Texas RMC
Saying Tenet is "bullish on Texas," a senior executive describes the organization's majority interest stake in its fourth hospital in the Dallas market.
Tenet's Central Region CEO
Tenet Healthcare Corporation has brought a fourth hospital into its Dallas market with the acquisition of a 55% interest in Texas Regional Medical Center at Sunnyvale, a 70-bed physician-owned community hospital 15 miles east of downtown Dallas.
Tim Adams, Tenet's Central Region CEO, says the hospital chain likes leans towards a majority stake in its joint ventures.
"We typically don't do a minority interest, though not to say we wouldn't," Adams says. "There are a lot of business reasons why we would want to be the majority partner. Without being a majority partner the partnership would not benefit from a lot of what Tenet could bring to that partnership."
And what does Tenet bring to the deal?
"One, it brings some scale to that hospitals and a few other facilities that are in that market. This is our fourth hospital in the Dallas market and the 18th hospital in the state of Texas," he says.
"We have two other facilities that are within 10−15 miles so it will be a nice scale of three facilities on the East Dallas corridor that enable us to take a step forward in our goal of building an integrated network in that East Dallas corridor, as well as strength in the hospitals current operating performance and clinical programs.