Tenet Spends $630 Million to Boost Stake in Addison-based Outpatient Surgery Company

Tenet Healthcare has spent $630 million to increase its stake in an Addison-based company that operates a 28-state network of outpatient surgery, imaging and urgent care facilities.Tenet, a national hospital operator based in Dallas, now owns 95 percent of United Surgical Partners International, an announcement Thursday said. Baylor University Medical Center owns the other five percent.Tenet, which was already majority owner of United Surgical Partners International, has now taken over the 15 percent of shares held by private equity firm Welsh, Carson, Anderson & Stowe. The two entered into a joint venture to operate the outpatient care company in 2015, a deal in which Tenet paid $425 million in cash.  Continue reading...