Methodist Le Bonheur Healthcare agrees to purchase Saint Francis Hospitals

WATCH: Methodist Le Bonheur buys St. Francis Hospital

MEMPHIS, Tenn. — Methodist Le Bonheur Healthcare announced on Friday that they have entered into an agreement with Tenet Healthcare to purchase Saint Francis Bartlett and Memphis.

According to the release issued by Methodist, the purchase will include the physician practices associated with both hospitals and six MedPost urgent care centers giving Methodist the ability to serve more of the community.

“We look forward to creating a more dynamic team of physicians, nurses, and staff dedicated to delivering compassionate high-quality care to anyone who walks through our doors, regardless of their ability to pay,” said Michael Ugwueke, President & CEO of Methodist Le Bonheur Healthcare.

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The purchase is expected to be completed in 2020.

J.P. Morgan served as the financial advisor to Methodist Le Bonheur Healthcare in connection with the purchase.