Tenet Announces Definitive Agreement with Loyola Medicine Regarding the Sale of MacNeal Hospital and Related Operations

Wednesday, October 11, 2017 10:00 am CDT

Dateline:

DALLAS

Public Company Information:

NYSE:
THC

DALLAS--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC) announced today that it has reached a definitive agreement with Loyola Medicine (“Loyola”), an affiliate of Trinity Health, under which Loyola will purchase MacNeal Hospital – which is located in a suburb of Chicago – as well as other operations affiliated with the hospital. The affiliated operations include local Tenet-owned physician practices; the Chicago Health System (“CHS”), an independent practice association of nearly 1,000 physicians; and the associated CHS accountable care organization. Under the terms of the agreement, MacNeal and these related operations will be added to the Loyola Medicine regional health system, which serves the west, south and southwest suburbs of Chicago.

The transaction is expected to be completed in the first quarter of 2018, subject to regulatory approvals and customary closing conditions.

About Tenet Healthcare

Tenet Healthcare Corporation is a diversified healthcare services company with nearly 130,000 employees united around a common mission: to help people live happier, healthier lives. Through its subsidiaries, partnerships and joint ventures, including United Surgical Partners International, the company operates 77 general acute care hospitals, 20 short-stay surgical hospitals and over 460 outpatient centers in the United States, as well as nine facilities in the United Kingdom. Tenet’s Conifer Health Solutions subsidiary provides technology-enabled performance improvement and health management solutions to hospitals, health systems, integrated delivery networks, physician groups, self-insured organizations and health plans. For more information, please visit www.tenethealth.com.

The terms “THC”, “Tenet Healthcare Corporation”, “the company”, “we”, “us” or “our” refer to Tenet Healthcare Corporation or one or more of its subsidiaries or affiliates as applicable.

This release contains “forward-looking statements” - that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “assume,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to, the factors disclosed under “Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the year ended December 31, 2016 and other filings with the Securities and Exchange Commission.

Contact:

Tenet Healthcare Corporation
Investor Contact:
Brendan Strong, 469-893-6992
investorrelations@tenethealth.com
or
Media Contact:
Lesley Bogdanow, 469-893-2640
mediarelations@tenethealth.com