UCI Health Expands In OC
The Regents of the University of California, acting for the University of California, Irvine, have signed a definitive agreement to buy Tenet Healthcare Corporation's (NYSE: THC) Pacific Coast Network, which will integrate into UCI Health, UC Irvine's clinical enterprise.
"UC Irvine is enhancing its healthcare commitment to Orange County, our region, and California," UC Irvine Chancellor Howard Gillman stated. "Our healthcare journey is closely linked with the University of California's mission to improve our communities, expand access to top-tier healthcare, and lead in medical innovation. Our vision aims to fill regional care gaps and affirm UCI's status as a top academic health system while finding solutions for healthcare challenges."
The acquisition, pending standard regulatory approvals, clearances, and closing conditions, will add four medical centers in Lakewood, Los Alamitos, Fountain Valley, and Placentia, along with their outpatient locations, to the UCI Health system. UCI Health, already providing care at UCI Medical Center in Orange and a network of multispecialty care centers, will thus expand its reach.
"We're thrilled to incorporate these new care sites into the UCI Health network, extending our compassionate, advanced care, clinical innovation, and scientific discoveries," said Chad Lefteris, UCI Health's president and CEO. "As the only academic health system in Orange County, UCI Health uniquely delivers the highest level of care, driven by the research and innovation of a leading public research university."
UCI Health sees a significant opportunity to enhance the quality care that Tenet Healthcare's Pacific Coast Network already delivers in its communities.
"These hospitals are known in their communities for high-quality, compassionate care," Saum Sutaria, M.D., Tenet Healthcare's chairman and CEO, remarked. "The communities will benefit from UCI Health's nationally recognized advancements, medical expertise, research, and focus on the community as an innovative academic health system."
In a populous region, UCI Health operates unique facilities including the only Level I trauma center, a locally based National Cancer Institute-designated comprehensive cancer center, high-risk perinatal-neonatal service, the largest regional burn center, and is a leading provider of complex care. UCI Health consistently ranks in the top 10 for quality and safety among the nation's comprehensive academic health systems.
The acquisition also opens access to more advanced therapies through the region's broadest and most diverse clinical trials portfolio, covering cancer, neurosciences, digestive diseases, orthopedics, and internal medicine.
Patients of UCI Health and Tenet Healthcare's Pacific Coast Network will continue to receive care as usual from their trusted care teams. The deal is slated for completion in spring 2024, subject to the usual regulatory approvals, clearances, and closing conditions.
"It's an honor to offer world-class care to Californians, and we look forward to welcoming clinicians and staff from these Tenet Healthcare facilities to UCI Health as partners in enhancing local community health," Lefteris expressed.
This announcement includes forward-looking statements, identifiable by terms like "expect," "anticipate," and similar expressions, reflecting expectations as of this announcement's date. Neither Tenet nor UCI Health will update these forward-looking statements. These statements are based on current assumptions and uncertainties, meaning actual results could significantly differ. Factors influencing these outcomes include risks described in Tenet's SEC filings and potential delays or failures in completing the transaction as expected.