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PHILADELPHIA-Tenet HealthSystem Pennsylvania, a subsidiary of Santa Barbara, CA-based Tenet Healthcare Corp., has acquired Roxborough Memorial Hospital at 5800 Ridge Ave. for approximately $24 million. The state attorney general and Pennsylvania Orphan’s Court, which have oversight of charitable institutions, have approved terms of the purchase agreement.

Roxborough has been in operation for 112 years and serves the Manayunk and East Falls communities as well as Roxborough. Under the agreement, Tenet commits to continue operating both the 125-bed medical center and the associated school of nursing, which is located on the campus and has been in existence for a century.

Roxborough generated net revenues of $45.5 million in the fiscal year ended June 30. It now becomes Tenet’s eighth hospital in the Philadelphia region. Among the others are Hahnemann University Hospital, Graduate Hospital and the Medical College of Pennsylvania Hospital.

“We consider (Roxborough’s) historical position very complementary to the tertiary services offered at Tenet’s teaching hospitals in Philadelphia,” says Barry A. Wolfman, senior vice president of Tenet’s Pennsylvania region, in a statement.

Roxborough’s current chief executive officer, Jack Donnelly, will remain in the same position under Tenet, and the existing staff will also remain. In addition, Tenet commits to providing charity care to the poor under a policy already developed in a public review process.

Tenet owns and operates 114 acute care hospitals with 27,851 beds nationwide along with numerous related health care services.

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