Orlando Health has entered a definitive agreement to purchase a 70 percent ownership stake in Tenet Healthcare’s Brookwood Baptist Health in Alabama.
The $910 million cash deal includes five Birmingham-area hospitals, as well as affiliated physician practices and operations, according to a Tenet statement released Monday Tenet.
The hospitals are Brookwood Baptist Medical Center, Princeton Baptist Medical Center, Walker Baptist Medical Center, Shelby Baptist Medical Center and Citizens Baptist Medical Center
Baptist Health System will remain in the partnership and it will remain a faith-based organization.
The system will be named Baptist Health following closing, which is expected this fall.
Orlando Health said it will manage day-to-day operations.
Thibaut van Marcke, senior vice president of Orlando Health Southeast Region and president of Orlando Health Dr. P. Phillips Hospital, will lead the nonprofit’s Alabama effort.
“We believe this is a new day in health care for our organizations and look forward to making Brookwood Baptist the best health care system in Alabama,” said David Strong, CEO of Orlando Health, a not-for-profit system based in Orlando.
Brookwood Baptist Health includes more than 1,700 beds, more than 70 primary and specialty care clinics, about 1,500 affiliated physicians and more than 7,300 employees.
Orlando Health, with more than $10.5 billion in assets, includes about 450 locations, with more than 3,400 beds and 17 hospitals.
