SSM acquiring Saint Louis University Hospital -

SSM acquiring Saint Louis University Hospital

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ST. LOUIS (AP) -- A prominent St. Louis hospital is changing hands.

SSM Health announced plans Monday to acquire Saint Louis University Hospital as part of a three-way agreement. Saint Louis University is buying the hospital from Dallas-based Tenet Healthcare Corp., then giving it to SSM in exchange for minority financial and governance interest in SSM Health St. Louis, a subsidiary of SSM.

Financial terms were not disclosed. The merger is expected to be finalized by late summer, subject to regulatory approval.

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 is a nonprofit health system with 19 hospitals and other health care services in four states -- Missouri, Illinois, Oklahoma and Wisconsin.

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