News Release: Hammond Hanlon Camp LLC Advises Baptist Health System on its Joint Venture with Tenet Healthcare Corporation

Hammond Hanlon Camp LLC Advises Baptist Health System on its Joint Venture with Tenet Healthcare Corporation
posted on October 8, 2015

NEW YORK — Baptist Health System (“Baptist”) and Tenet Healthcare Corporation (“Tenet”) have completed the previously announced transaction to create a joint venture that will operate a large integrated healthcare network serving Birmingham and central Alabama.  Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as exclusive financial advisor to Baptist.

H2C was engaged by Baptist to help explore strategic partnerships with the goal of improving Baptist’s market position, facilitating its growth, and ensuring that Baptist can continue fulfilling its mission of enhancing the health, dignity and wholeness of those it serves.  Once Tenet was identified as the preferred partner, H2C worked with Baptist to outline the transaction structure and led negotiations with Tenet.  The joint venture represents the latest in a series of successful transactions dating back to 2006 in which professionals of H2C have advised Baptist.

“The advice H2C provided was critical in helping us achieve our goal of maintaining and growing the Baptist mission while ensuring we have an equal role in governing the combined organization long into the future” stated John Holcomb, Chairman of the Baptist Health System Board of Directors.  “We couldn’t be more pleased with the outcome” added Mr. Holcomb.

The new company, to be governed by a Board of Directors consisting of five Baptist representatives and five Tenet representatives, will unite Baptist’s four hospitals — Citizens Baptist Medical Center, Princeton Baptist Medical Center, Shelby Baptist Medical Center and Walker Baptist Medical Center — with Tenet’s Brookwood Medical Center.  Together, the new system will have more than 1,700 licensed beds; 77 outpatient and physician offices, including clinics delivering primary and specialty care; approximately 7,300 employees; and approximately 1,500 affiliated physicians.

“The H2C team did an excellent job advising Baptist on the formation of the joint venture,” stated Keith Parrot, Chief Executive Officer of Baptist Health System.  “They understood our goals and objectives clearly and worked tirelessly to help us achieve them.”

“We were pleased to help Baptist in its partnership with Tenet.  This is a very strategic transaction that strengthens the positions of both Baptist and Tenet in a highly competitive market.  It’s a win for both parties” stated Michael B. Hammond, Principal, Hammond Hanlon Camp LLC.  Email Michael

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