DALLAS--(BUSINESS WIRE)--Baylor Scott & White Health and Tenet Healthcare Corporation (NYSE:THC)
today announced a definitive agreement to partner on providing care
through five North Texas hospitals. The partnership will focus on
delivering integrated, value-based care to communities in Rockwall,
Collin and Dallas counties.
Through this new partnership, the two organizations will jointly own
Centennial Medical Center, Doctors Hospital at White Rock Lake, Lake
Pointe Medical Center, and Texas Regional Medical Center at Sunnyvale –
currently owned and operated by a subsidiary of Tenet – and Baylor
Medical Center at Garland – currently owned and operated by Baylor Scott
& White Health. Baylor Scott & White Health will hold a majority
ownership interest in the five hospitals, and all five will operate
under the Baylor Scott & White Health brand. The transaction is subject
to regulatory review and customary closing conditions.
“This is an exciting step as we partner with a like-minded organization
to create a strong network that will improve the health of individuals,
families and communities across eastern and northeastern Dallas,” says
Gary Brock, president and chief operating officer of Baylor Scott &
White Health, North Texas. “This partnership demonstrates our commitment
to advancing population health in North Texas.”
“Our goal is to provide high-quality care for patients and families in
the Dallas area,” says Brett Lee, chief executive officer of Tenet’s
Dallas Market. “This partnership will strengthen our ability to provide
better care for patients and better health in the communities we serve.”
Additional details of the definitive agreement include:
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Governance: The partnership will be governed by a jointly
appointed board of managers. In addition, each hospital will have a
governing board and independent medical staffs and medical staff
leadership responsible for certain medical staff and clinical matters.
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Branding: Centennial Medical Center, Doctors Hospital at White
Rock Lake, Lake Pointe Medical Center and Texas Regional Medical
Center at Sunnyvale will transition to the Baylor Scott & White Health
brand over a period of time.
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Operations: Tenet will continue to manage the operations of
Centennial Medical Center, Doctors Hospital at White Rock Lake, Lake
Pointe Medical Center and Texas Regional Medical Center at Sunnyvale
on behalf of the partnership. Baylor Scott & White Health will
continue to manage Baylor Medical Center at Garland.
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Leadership and Employees: The leadership teams for each
hospital will remain in place, and there should be little-to-no change
for employees at the five hospitals.
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Medical Staffs: Each hospital will maintain an independent
medical staff, and physicians will retain their current hospital
privileges.
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Community Benefit and Charity Care: Centennial Medical Center,
Doctors Hospital at White Rock Lake, Lake Pointe Medical Center and
Texas Regional Medical Center at Sunnyvale will adopt certain policies
that are integral to Baylor Scott & White Health’s identity and its
traditions, including its policies and standards related to charity
care and community benefit. Baylor Medical Center at Garland will
continue to meet or exceed the same standards.
Separately, Tenet’s North Texas accountable care organization recently
entered into an affiliation agreement with the Baylor Scott & White
Quality Alliance, effective February 23, 2015. For members of the Baylor
Scott & White Quality Alliance, a leading accountable care organization
in Texas, this agreement increases convenient access to coordinated and
integrated care by adding four hospitals, six outpatient centers and
more than 170 physicians to the network.
About Baylor Scott & White
Baylor Scott & White Health, the organization formed from the 2013
merger between Baylor
Health Care System and Scott
& White Healthcare, is today the largest not-for-profit health
care system in the State of Texas. With total assets of $9 billion and
serving a population larger than the state of Virginia, Baylor Scott &
White Health has the vision and resources to provide its patients
continued quality care while creating a model system for a dramatically
changing health care environment. The organization now includes 49
hospitals, more than 800 access points, more than 5,800 active
physicians, 35,000 employees and the Scott & White Health Plan.
About Tenet Healthcare
Tenet Healthcare Corporation is a national, diversified healthcare
services company with 110,000 employees united around a common mission:
to help people live happier, healthier lives. The company operates 80
hospitals, 214 outpatient centers, six health plans and Conifer Health
Solutions, a leading provider of healthcare business process services in
the areas of revenue cycle management, value based care and patient
communications. 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 Tenet’s 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, 2014, and in our quarterly reports on Form 10-Q,
periodic reports on Form 8-K and other filings with the Securities and
Exchange Commission. The information contained in this release is as of
the date hereof. Tenet assumes no obligation to update forward-looking
statements contained in this release as a result of new information or
future events or developments.
Tenet uses its company website to provide important information to
investors about the company including the posting of important
announcements regarding financial performance and corporate developments.
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