Tenet, Dignity Health and Ascension Form Joint Venture to Own and Operate Carondelet Health Network in Arizona

Tuesday, September 1, 2015 8:00 am CDT

Dateline:

DALLAS & SAN FRANCISCO & ST. LOUIS & TUCSON, Ariz.

Public Company Information:

NYSE:
THC

DALLAS & SAN FRANCISCO & ST. LOUIS & TUCSON, Ariz.--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC), Dignity Health and Ascension have finalized a joint venture to own and operate Carondelet Health Network based in Tucson, Arizona. Tenet is the majority partner in the new joint venture and will manage the operations of the network’s three hospitals, two physician groups, outpatient and ambulatory services, as well as other affiliated businesses in Tucson and Nogales, Arizona. Dignity Health and Ascension have minority interests in the partnership.

Tenet and Dignity Health separately own and operate hospitals and clinics in the Phoenix area and together manage a growing accountable care organization, the Arizona Care Network (ACN). The organization includes more than 750 patient care facilities across Tenet’s and Dignity Health’s Phoenix-based healthcare systems, with more than 3,400 providers and more than 200,000 covered lives.

The Tucson–based joint venture will connect Carondelet to the ACN, which will provide increased access to care for patients, strengthen and grow Carondelet’s relationships with physicians, provide development opportunities for current and future employees, and fund strategic growth initiatives across Southern Arizona.

The facilities in the new partnership include:

  • St. Joseph’s Hospital (486 beds) in Tucson
  • St. Mary’s Hospital (400 beds) in Tucson
  • Holy Cross Hospital (25 beds) in Nogales
  • Carondelet Heart & Vascular Institute at St. Mary’s Hospital
  • Carondelet Neurological Institute at St. Joseph’s Hospital
  • Carondelet Medical Group
  • Carondelet Specialist Group

Carondelet’s services also include imaging centers and other ambulatory services and ancillary businesses.

The joint venture will maintain Carondelet’s Roman Catholic heritage and identity through an agreement with the Diocese of Tucson. Additionally, Carondelet’s existing charity care policies will remain in place.

About Tenet Healthcare

Tenet Healthcare Corporation is a diversified healthcare services company with more than 125,000 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 (USPI), the company operates 83 general acute care hospitals, 19 short-stay surgical hospitals and over 400 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 (IDN), physician groups, self-insured organizations and health plans. For more information, please visit www.tenethealth.com.

The terms "THC," "Tenet Healthcare Corporation" or “Tenet” refer to Tenet Healthcare Corporation or one or more of its subsidiaries or affiliates as applicable.

About Dignity Health in Arizona

Dignity Health in Arizona includes five outstanding hospitals – Chandler Regional Medical Center, Mercy Gilbert Medical Center, St. Joseph’s Hospital and Medical Center, which includes Barrow Neurological Institute, St. Joseph's Westgate Hospital and Arizona General Hospital. From this foundation, Dignity Health in Arizona has expanded into a comprehensive health care system, which includes imaging centers, clinics, specialty hospitals, urgent cares, insurance providers, an accountable care organization and other clinical partnerships. The Dignity Health Medical Group includes more than 40 practices and covers a wide range of specialties. Dignity Health in Arizona is part of Dignity Health, one of the nation’s largest health care systems.

About Ascension

Ascension (www.ascension.org) is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As the largest non-profit health system in the U.S. and the world’s largest Catholic health system, Ascension is committed to delivering compassionate, personalized care to all persons with special attention to those who are struggling the most. In FY2015, Ascension provided $2 billion in care of persons living in poverty and other community benefit programs. More than 150,000 associates and 35,000 affiliated providers serve in 1,900 sites of care – including 131 hospitals and more than 30 senior care facilities – in 24 states and the District of Columbia. In addition to healthcare delivery, Ascension subsidiaries provide a variety of services and solutions including physician practice management, venture capital investing, treasury management, biomedical engineering, clinical care management, information services, risk management, and contracting through Ascension’s own group purchasing organization.

About Carondelet Health Network

Located in Tucson, Arizona, Carondelet Health Network is committed to providing Southern Arizonans with a full spectrum of high-quality, cost-efficient care and improving the quality of life for all those who enter its doors. As the region’s only Catholic hospital system, Carondelet’s facilities include two acute care hospitals in Tucson, St. Mary's Hospital and St. Joseph's Hospital; and Holy Cross Hospital, a critical access hospital in Nogales, Arizona. Carondelet’s family of services also includes Carondelet Heart & Vascular Institute, Carondelet Neurological Institute, primary and specialty care clinics, imaging centers and ancillary services. Jointly owned by Tenet Healthcare Corporation, Dignity Health and Ascension, Carondelet is operated by majority partner Tenet, a leading diversified healthcare services company. For more information about Carondelet Health Network, please visit www.carondelet.org.

Contact:

Tenet Healthcare Corporation
Corporate Communications
Donn Walker, 469-893-2640
mediarelations@tenethealth.com
or
Investor Relations
Brendan Strong, 469-893-6992
investorrelations@tenethealth.com
or
Dignity Health
Lauren Davis, 415-438-5650
lauren.davis@dignityhealth.org
or
Ascension
Nick Ragone, 314-733-8941
nick.ragone@ascension.org