Yale New Haven Health System and Tenet Healthcare Corporation (NYSE:THC) have formed a partnership to create a comprehensive health care delivery network in Connecticut, with the intention to expand into the greater Northeast region. Using the strengths of each organization, the partnership will enhance the efficiency and coordination of health care in the region by offering comprehensive clinical services to a larger geography. Additional plans include creating a clinically integrated delivery platform with local physician groups and entering into value-based contractual relationships with employers and other payers of health care services. Under the terms of the agreement, Yale New Haven Health System and Tenet Healthcare will remain independent of each other. “The Yale New Haven Health System has a strong reputation for innovation and shares Tenet’s intense focus on delivering high-quality, patient-centered health care,” said Keith Pitts, vice chairman of Tenet Healthcare. “This agreement capitalizes on the respective strengths of both organizations and will enhance the clinical care – and the access to that care – in the communities we serve. The partnership will bring improved clinical technologies, increased economies of scale, and capital resources to the hospitals, ambulatory care centers and physician practices that we will become affiliated with in the future.” As previously disclosed, letters of intent are already in place to acquire, subject to receipt of regulatory approvals and the execution of definitive agreements, Waterbury Hospital, a teaching hospital in Waterbury, Conn., Bristol Hospital in Bristol, Conn., and Eastern Connecticut Health Network, which includes two hospitals located in Manchester and Rockville, Conn. “We are excited to bring a truly innovative solution to some of the challenges in the Connecticut health care landscape through our partnership with Tenet,” said Marna Borgstrom, chief executive officer of Yale New Haven Health System. “This agreement continues our efforts to provide patients with accessible, patient-focused health care services in more locations. In addition, Tenet’s leadership in patient care quality and innovations in technology and operational efficiency will strengthen our ability to provide even better service to our patients, employees and physicians.”
About TenetTenet Healthcare Corporation, a leading health care services company, through its subsidiaries operates 77 hospitals throughout the United States (including five teaching hospitals), 187 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. About Yale New Haven Health System Yale New Haven Health System, the largest and most comprehensive healthcare system in Connecticut, is recognized for advanced clinical care, quality, service, cost effectiveness and commitment to improving the health status of the communities it serves. YNHHS includes three hospitals – Bridgeport, Greenwich and Yale-New Haven hospitals, several specialty networks and Northeast Medical Group, a non-profit medical foundation with several hundred community-based and hospital-employed physicians. www.ynhhs.org. 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 to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.