- Tenet Healthcare (NYSE:THC) says it no longer plans to sell two Memphis-area hospitals and certain related facilities to Methodist Le Bonheur Healthcare, after the Federal Trade Commission filed a lawsuit last month aimed at stopping the deal.
- Methodist Le Bonheur Healthcare, which has four hospitals in the Memphis area, had been set to acquire Tenet's St. Francis hospital in Memphis and St. Francis hospital in Bartlett in a deal valued at $350M.
- But the FTC said the purchase would reduce the number of hospital systems providing general acute care in the Memphis area from four to three and give Methodist 60% of that market.
- https://seekingalpha.com/news/3647261-tenet-exits-proposed-350m-tennessee-hospital-deal
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