Tenet, Dignity Health and Ascension have Formed Joint Venture to Own and Operate CHNAug 30, 2015
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
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.
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