© 2015 The Texas Lawbook.
By Natalie Posgate
(March 25) – Dallas-based Baylor Scott & White Health and Tenet Healthcare Corporation have agreed to form a partnership that will provide health care for five North Texas hospitals.
Baylor Scott & White and Tenet will jointly own Centennial Medical Center, Doctors Hospital at White Rock Lake, Lake Pointe Medical Center, Texas Regional Medical Center at Sunnyvale and Baylor Medical Center at Garland. Baylor Scott & White will hold majority ownership in the five hospitals and they will all operate under the Baylor Scott & Health brand.
Tenet turned to Dallas corporate partner Rob Little of Gibson, Dunn & Crutcher to handle its end of the transaction. Little said the deal is significant because it represents a partnership between two leading health care providers who seek to deliver the highest quality patient care in North Texas.
“Negotiating this joint venture involved the complicated task of building a framework for governance, operations, compliance, employees and branding that will allow the partnership to grow and flourish over time while being mutually beneficial to the JV parties,” he said.
Little received assistance from Dallas associate Caitlin Calloway and attorneys from the firm’s New York office. New York Gibson Dunn lawyers led two other deals for Tenet – also announced this week – that Little and Calloway also worked on. Tenet signed two agreements with Welsh, Carson, Anderson & Stowe to acquire United Kingdom-based Aspen Healthcare for $215 million and Dallas-based United Surgical Partners International (USPI) after the closing of a $425 million joint venture.
Tenet in-house lawyers Jeff Peterson and Steven Schaefer were also involved in the current deal.
Baylor General Counsel Steve Boyd hired Matt Jenkins of Hunton & Williams, who divides his time between the firm’s Dallas and Richmond offices, to handle its end of the transaction. Richmond associate James Pinna also assisted.
The deal is subject to regulatory review and customary closing conditions.
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