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JUN 25, 2013 - New Statesman

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Tenet to acquire Vanguard Health for $1.73bn

Deal valued at $4.3bn.Tenet Healthcare Corporation has signed a definitive agreement to acquire Vanguard Health Systems for a cash consideration of $1.73bn, or $21 per share. The deal is valued at $4.3bn and includes an assumption of $2.5bn in Vanguard debt. Tenet plans to fund the acquisition through secured fully committed financing from Bank of America Merrill Lynch. Private equity firm Blackstone Group holds 38% share, the largest, in Vanguard and will reportedly earn over $600m in the sale. In addition to expanding Tenet’s total ownership to 79 hospitals and 157 outpatient ... Read More

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