Tenet to sell majority stake in 5 Alabama hospitals for $910M

Tenet Healthcare will sell a 70% interest in Brookwood Baptist Health to Orlando Health for $910 million, including hospitals, physician practices, and related operations. This follows Tenet’s sales of nine hospitals for $3 billion. The sales are part of an ongoing divestitures strategy to reduce debt and rebalance its portfolio towards ambulatory surgery centers. The funds from the sale are expected to be used to further pay down debt.