Financial terms were not disclosed. The merger is expected to be finalized by late summer
ST. LOUIS (AP) – A prominent St. Louis hospital is changing hands.
SSM Health on Monday announced plans to purchase Saint Louis University Hospital in a merger of two Catholic institutions. Saint Louis University is buying the hospital from Dallas-based Tenet Healthcare Corp., then selling it to SSM. Tenet purchased the hospital from Saint Louis University in 1998.
Financial terms were not disclosed. The merger is expected to be finalized by late summer.
Saint Louis University will obtain a minority financial and governance interest in SSM. Doctors and other employees of Saint Louis University’s physician practice, SLUCare Physician Group, will remain at their current sites.
St. Louis-based SSM Health operates 19 hospitals and other health care services in four states – Missouri, Illinois, Oklahoma and Wisconsin.