Tenet Healthcare Corporation (NYSE:THC) and Aetna Inc., (NYSE:AET) have signed a new, expanded two-year agreement providing members of Aetna’s and Coventry’s commercial and Medicare Advantage health plans with covered health care services at Tenet’s 77 hospitals, 186 outpatient centers and Tenet Physicians, Inc., which contracts for more than 1,500 physicians employed by various Tenet subsidiaries. In 2014, Tenet hospitals and related facilities also will participate in Aetna and Coventry exchange products in seven markets as well as in developing accountable care arrangements.

“We value our long-standing relationship with Aetna and Coventry and are very pleased to have expanded our agreement to include all of our hospitals, outpatient centers and employed physicians,” said Clint Hailey, Tenet’s chief managed care officer. “Providing Aetna and Coventry members with convenient access to high-value, high-quality health care is a high priority. We are proud to be an industry leader in advancing value-based care efforts to improve quality and lower cost, and the completion of this agreement furthers our commitment.”

The new agreement, effective January 1, 2014, continues the implementation of accountable care organization (ACO) arrangements in Texas and Arizona between Aetna, Coventry and Tenet’s Integrated Care Networks, which aim to create lower-cost options for employers and consumers. Also under the new agreement, Resolute Health Hospital and Wellness Campus, currently under construction in New Braunfels, Texas, was added to all applicable Aetna networks, making it the first major managed care agreement for the new hospital.

“Aetna is very pleased to reach an agreement that will continue access to Tenet facilities and physicians for our members,” said Carl King, head of Aetna National Networks and Contracting Services. “This contract brings our Aetna and Coventry members together under one agreement, assuring continued network stability.”

About Tenet

Tenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 77 hospitals, 186 outpatient centers and Conifer Health Solutions, a leader in business process solutions for health care providers serving more than 700 hospital and other clients nationwide. Tenet’s hospitals and related health care facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.

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, 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 to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.

Copyright Business Wire 2010