Baylor Scott & White Health and Tenet Healthcare Corp. expect to finalize their partnership in the coming months and jointly own Centennial Medical Center.

In March, Tenet Healthcare Corp. announced that the Frisco hospital, which is owned by Tenet, is one of five North Texas Tenet hospitals partnering with Baylor Scott & White Health.

“We are nearing the end of the regulatory review process and expect to finalize our partnership soon,” Tenet spokesperson Charles Nicholas said. “Together, we will deliver integrated, value-based care to communities in Collin, Dallas and Rockwall counties.”

Nicholas said Tenet would continue to manage the operation of Centennial Medical Center. The leadership of the hospital, employees and operations are expected to remain largely in place.

The hospital partnership will be governed by a jointly appointed board of managers, and each hospital will have a governing board, an independent medical staff and an independent leadership staff.

Baylor Scott & White is the largest nonprofit health care system in Texas, which includes 49 hospitals.

Tenet is a national health care services company that operates 80 hospitals.

Centennial Medical Center was built in 2004.