UCI Health, the largest health system in Orange County, is acquiring four medical centers, including three in Orange County, from Tenet Healthcare Corp. (NYSE: THC) for $975 million in cash.
The proposed acquisition of Tenet’s Pacific Coast Network includes Los Alamitos, Fountain Valley and Placentia as well as Lakewood and associated outpatient locations.
“UC Irvine has deepened its healthcare commitment to the future of Orange County, our region and California,” UC Irvine Chancellor Howard Gillman said in a statement. “This journey in healthcare is deeply intertwined with the University of California’s dedication to bettering our communities, expanding access to premier healthcare, and pioneering the medical innovations of tomorrow, today. Our vision will bridge gaps in regional care and reinforce UCI’s place among the nation’s leading academic health systems while advancing solutions to challenges facing healthcare.”
For more information, see the Feb. 12 print edition of the Orange County Business Journal.