DALLAS & SAN FRANCISCO & ST. LOUIS & TUCSON, Ariz.--(BUSINESS WIRE)--Tenet Healthcare Corporation (NYSE:THC), Dignity Health and Ascension
have signed a definitive agreement to create a partnership that will own
and operate Carondelet Health Network based in Tucson, Arizona.
Ascension currently owns 100 percent of Carondelet. Tenet will be the
majority partner in the new joint venture and will manage the operations
of three hospitals, related physician practices, outpatient and
ambulatory services, and other affiliated businesses in Tucson and
Nogales, Arizona. Dignity Health and Ascension will own minority
interests in the partnership.
“We look forward to the opportunity to partner with two highly respected
and dedicated healthcare organizations to improve healthcare delivery to
the communities of Southern Arizona,” said Britt T. Reynolds, President
of Hospital Operations at Tenet. “Through this innovative partnership,
we will not only continue Carondelet’s 135-year healthcare mission to
care for residents across Tucson and Southern Arizona, but will also
connect Carondelet to a larger, growing statewide healthcare network,
enhancing patient access to a wide range of healthcare resources
throughout the state. This is consistent with Tenet’s strategy to create
new, innovative models for patient care.”
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
currently includes more than 130 patient care facilities across Tenet’s
and Dignity Health’s Phoenix-based healthcare systems, with more than
3,300 providers and more than 200,000 covered lives. A Tucson–based
joint venture will connect Carondelet to ACN, which will provide
increased access to care for patients, strengthen and grow Carondelet’s
relationships with physicians, provide employee development
opportunities for current and future employees, and fund strategic
growth initiatives across Southern Arizona.
Linda Hunt, President and CEO of the Arizona Service Area for Dignity
Health, said, “The partnership will continue the remarkable legacy of
Carondelet in Arizona, while launching a new organization capable of
maximizing the changing landscape of healthcare today and meeting the
growing demands for quality care in Southern Arizona.”
“We are excited about this new relationship with Tenet and Dignity
Health,” said Robert J. Henkel, FACHE, Executive Vice President of
Ascension and President and CEO of Ascension Health. “Carondelet shares
Tenet’s and Dignity Health’s commitment to provide high-quality,
low-cost, patient-centered care. This relationship is an opportunity to
strengthen those efforts and enhance healthcare across Arizona.”
The facilities in the new partnership will include:
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St. Joseph’s Hospital (486 beds) in Tucson
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St. Mary’s Hospital (400 beds) in Tucson
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Holy Cross Hospital (25 beds) in Nogales
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Carondelet Heart & Vascular Institute at St. Mary’s Hospital
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Carondelet Neurological Institute at St. Joseph’s Hospital
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Carondelet Medical Group
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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.
The transaction is subject to normal regulatory reviews and is expected
to close in the third quarter of 2015. Financial terms are not being
disclosed.
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 81 general acute care
hospitals, 18 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 person-centered care
to all with special attention to those who are poor and vulnerable. In
FY2014, Ascension provided $1.8 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
23 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 currently a
Catholic, non-profit healthcare system dedicated to responding to the
health, education, and wellness needs of Southern Arizonans.
Carondelet’s first hospital was originally founded by the Sisters of St.
Joseph of Carondelet in 1880. Today, Carondelet’s facilities include St.
Mary's Hospital, St. Joseph's Hospital, Carondelet Heart & Vascular
Institute at St. Mary’s Hospital, Carondelet Neurological Institute at
St. Joseph’s Hospital, and Carondelet Holy Cross Hospital in Nogales,
Arizona. Carondelet’s family of services also include primary and
specialty care clinics, an ambulatory surgery center, imaging centers,
and other outpatient services. In Fiscal Year 2014, Carondelet provided
$72 million in Community Benefit to improve the health of its community
and increase access to healthcare. For more information about Carondelet
Health Network, please visit www.carondelet.org.
Tenet Healthcare Corporation Cautionary Statements
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, 2013, 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. The company 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 www.tenethealth.com
to provide important information to investors about the company
including the posting of important announcements regarding financial
performance and corporate developments.
