SSM Health to acquire Saint Louis University Hospital

ST. LOUIS -- 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 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.

Saint Louis University President Fred P. Pestello noted SLUCare Physician Group and SSM Health have worked together for decades at SSM Cardinal Glennon Children's Medical Center and SSM St. Mary's Health Center.