Tenet Healthcare (NYSE: THC) has entered into a definitive agreement with Methodist Le Bonheur Healthcare to divest Tenet’s hospitals and other operations in the Memphis area. The agreement includes the sale of Saint Francis Hospital – Memphis and Saint Francis Hospital – Bartlett, the physician practices associated with both hospitals, and six MedPost urgent care centers.

The agreement provides that Tenet’s Conifer Health Solutions subsidiary will continue to provide revenue cycle management services to the hospitals following completion of the transaction. The transaction is expected to be completed in 2020, subject to regulatory approvals and customary closing conditions.