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PHILADELPHIA-Solis Healthcare LLC, the company formed to buy Roxborough Memorial Hospital and Warminster Hospital from Dallas-based Tenet Healthcare Corp., has completed the transaction. The price was $25.5 million, with $15.5 million paid in cash, and the remaining $10 million in a note due in December 2009. In 2002, Tenet acquired Roxborough alone for $24 million.

Jack Donnelly, the current CEO of Roxborough, and Robert Souaid, who has owned healthcare properties in the Southeast, head Solis, as GlobeSt.com previously reported. Solis will manage both hospitals and continue to employ substantially all existing staff.

Roxborough is a 137-bed acute care hospital at 5800 Ridge Ave. here, and Warminster is a 153-bed acute care hospital at 225 Newtown Rd. in Warminster. These are the last of three area hospitals Tenet put on the sales block in June 2006 along with eight others in different parts of the country.

In early April it sold Graduate Hospital here to the University of Pennsylvania Health System for $16.5 million. Warminster and Graduate were part of a seven-hospital portfolio in this area that Tenet acquired from Allegheny Health System, which went into bankruptcy in 1998.

Following the Allegheny acquisition it sold Elkins Park Hospital and the Medical College of Pennsylvania Hospital and closed the City Avenue and Parkview hospitals. Tenet will continue to own and operate Hahnemann University Hospital and St. Christopher’s Hospital for Children here, both of which were in the former Allegheny portfolio.

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