San Ramon Regional Medical Heart is poised to be wholly owned by John Muir Well being, pending approval of an settlement with present majority house owners Tenet Healthcare that was introduced on January 11. (Picture courtesy of John Muir Well being)
The San Ramon Regional Medical Heart might be bought in its entirety to John Muir Well being, pending approval and completion of a nine-figure take care of the present majority proprietor, Tenet Healthcare.
John Muir officers introduced the deal Wednesday wherein Tenet Healthcare agreed to promote its majority stake within the hospital (51%) to John Muir Well being for $142.5 million, which at the moment holds a 49% stake. The transaction, which is topic to evaluate by federal regulators, would make John Muir Well being the only real proprietor.
“We imagine this acquisition is nice for our neighborhood, caregivers, sufferers, and John Muir Well being and San Ramon Regional Medical Heart,” mentioned Mike Thomas, President and CEO of John Muir Well being.
John Muir Well being beforehand invested almost $100 million for its 49% curiosity in SRRMC in 2013 and partnered with Tenet Healthcare on its Pleasanton outpatient middle, which broke floor in 2015.
John Muir Well being officers mentioned the native nonprofit well being care system targets in some ways, together with integrating SRRMC into its system-wide JMH digital well being report, Epic, increasing programming and funding in amenities and companies at SRRMC.