The University of Southern California and Tenet Healthcare Corp. have signed a definitive agreement for USC to acquire the USC University Hospital and USC Norris Cancer Hospital.
The deal is expected to close on March 31, 2009.
USC, a leading private research university, will invest $275 million to acquire assets including 471 inpatient beds within the two private hospitals located on USC’s Health Sciences campus.
“The hospital acquisition is an historic investment by USC and a move to create an integrated academic medical center, elevating the Keck School of Medicine to a nationally acclaimed leader,” said USC president Steven B. Sample.