Local hospitals sold to Adventist Health
Twin Cities Community Hospital in Templeton.
Transaction anticipated to conclude in the spring of 2024
– Adventist Health has reached agreements to acquire Sierra Vista Regional Medical Center and Twin Cities Community Hospital, along with related physician practices and imaging centers, from Tenet Healthcare.
As a component of the acquisition, Adventist Health will also engage in an agreement with Conifer Health Solutions, specializing in “comprehensive revenue cycle services.”
“We are excited to increase our footprint to the beautiful Central Coast of California,” says Kerry L. Heinrich, president and CEO of Adventist Health. “We are committed to partnering with Sierra Vista Regional Medical Center and Twin Cities Community Hospital to expand services, and we will work together to serve our mission of increasing the availability of care for communities in this region.”
“Sierra Vista Regional Medical Center and Twin Cities Community Hospital have enhanced access to high-quality healthcare services for the greater San Luis Obispo community for over 60 years,” said Saum Sutaria, M.D., chairman and CEO for Tenet Healthcare. “Adventist Health’s innovative, patient-centered approach will enable these hospitals to be at the forefront of advancing compassionate, community-based medicine.”
The transaction is anticipated to conclude in the spring of 2024, contingent upon customary regulatory approvals, clearances, and closing conditions. RBC Capital Markets served as the exclusive financial advisor to Adventist Health.
