The joint venture announced last year between Baylor Scott & White Health and the Tenet Healthcare Corporation has officially closed, linking five hospitals in Dallas County.

Baylor Scott & White will retain a majority stake in the hospitals, four of which were owned by Tenet including Centennial Medical Center in Frisco; Doctors Hospital at White Rock Lake; Lake Pointe Medical Center in Rowlett; and Texas Regional Medical Center at Sunnyvale. The deal also includes Baylor Medical Center at Garland. The venture closed December 31 and became effective January 1.

“We have in the Dallas market four very high quality community hospitals that provide excellent care to the community we serve,” said Brett Lee, Tenet’s Dallas Region CEO and a DFW Hospital Council board member. “But we realized healthcare is going through tremendous changes and we will be held accountable for how we can manage the health of a population.”

You can read the full story, penned by Matt Goodman of D Healthcare Daily, here.