Nonprofit health system, Adventist Health, announced Thursday it has purchased two hospitals in San Luis Obispo County from Tenet Health.
The $550 million acquisition will include Sierra Vista Regional Medical Center in San Luis Obispo, Twin Cities Community Hospital in Templeton as well as the related physician practices and imaging centers, according to Tenet Health's press release.
As part of the purchase agreement, Tenet Health's subsidiary, Conifer Health Solutions, will be providing revenue cycle services for Adventist Health, officials said.
“We are excited to increase our footprint to the beautiful Central Coast of California,” Kerry L. Heinrich, president and CEO of Adventist Health, said in a statement. “We are committed to partnering with Sierra Vista Regional Medical Center and Twin Cities Community Hospital to expand services, and we will work together to serve our mission of increasing the availability of care for communities in this region.”
The transaction is expected to be completed in the spring of 2024.
According to Adventist Health's website, the health system is a "faith-based nonprofit" that runs 26 hospitals across the West Coast and Hawaii.
While the organization started as a healthcare ministry of the Seventh-day Adventist Church in 1866, they are "separately owned and operated".
KSBY has reached out to Tenet Health Central Coast about the potential impacts the acquisitions may have on current employees and patients but has not heard back.
