Mergers & Acquisitions
Had they merged, the combined system would have been one of the largest nonprofits in the state.
The purchase does not include acquisition of the $62 million in debt incurred during construction of the hospital in 2010.
When Tenet hands over ownership, the hospital will join nonprofit Catholic health system SSM Health, with St. Louis University retaining a minority interest in the hospital.
Deals add 17 inpatient facilities and more than 500 beds to its network.
A takeover of the company would likely be the largest health insurance acquisition since the $20 billion merger of Anthem and WellPoint in 2003.
Prudential Real Estate Investors has raised $629 million to be used to buy senior housing.
Mercy plans to invest $7 million in the hospital during the next seven years, enhancing the hospital's cardiology, orthopedics and cancer treatment capabilities.
Piedmont, with five hospitals in its network, is gaining a 97-bed nonprofit hospital that has plans underway to expand its emergency department.
The deal would add two new affiliated hospitals to Northwestern, one of the largest systems in the region.
Smaller practices that may not have the capital to invest in systems and staff to manage the coding change may seek out mergers, joint ventures or other partnerships.