The company announced on Monday that Tenet Healthcare will pay $1.2 billion to acquire SurgCenter Development, a transaction that will add 92 outpatient surgery centers to the for-profit medical system.

this trade Includes a five-year partnership and development agreement between the heads of United Surgical Partners International and SurgCenter Development, the outpatient surgery subsidiary of Dallas-based Tenet, to provide continuity and support for the facility and its physician partners. After the transaction is completed, Tenet will own at least some of more than 440 outpatient surgery centers in 35 states.

Tenet acquired 92 SurgCenter development centers in 21 states, including the lucrative Arizona, Florida and Texas markets. The portfolio includes 65 mature centers and 27 centers that have opened in the past year or will perform their first surgery in 2022. Their case portfolio is approximately 80% of musculoskeletal care, including hip and knee replacement surgery and spine surgery.

“Balance of internal operations and future operating facilities [SurgCenter Development] Now landing on [United Surgical Partners International]. They are all here,” Tenet CEO Dr. Saum Sutaria said in a conference call with analysts on Monday.

Sutaria said that SurgCenter Development has the largest portfolio of outpatient care centers that can be used to acquire and expand Tenet’s footprint in this market.

Tenet’s United Surgical Partners International plans to open at least 50 new facilities in the next five years as part of a deal with SurgCare Development and owners who retain shares in existing facilities.

Sutaria said that Tenet and SurgCare Development have a long history. Prior to the new transaction, Tenet had acquired 67 outpatient surgery centers from another company since 2009.Health system $1.1 billion spent Nearly 50 facilities of SurgCenter were acquired last year.

SurgCenter Development holds an average of approximately 39% minority equity in 86 companies, and an average of approximately 55% majority equity in 6 companies.

Tenet has not yet acquired the shares of other owners of the center. In the next few months, the company will attempt to purchase part of the doctor’s owner’s equity in increments of up to approximately $250 million.

Tenet plans to finance the transaction through first-lien-secured notes. The company expects to complete the transaction in the fourth quarter, subject to customary approval and closing conditions.