|
Wednesday, April 30, 2008
Tenet Signs New Agreement for its Philadelphia Hospitals with Independence Blue Cross
Dallas – April 30, 2008 – Tenet Healthcare Corporation (NYSE: THC) announced today that its two hospitals in Philadelphia, Hahnemann University Hospital and St. Christopher’s Hospital for Children, have reached agreement in principle on terms of new contracts. They have extended their current agreements while they define terms for new multi-year contracts. Hahnemann and St. Christopher’s are both part of Tenet Healthcare Corporation’s national network of hospitals. The parties will continue to work together to finalize details of the new contracts with a targeted effective date of July 1, 2008.
Members of IBC will continue to have access to health care services offered at the two hospitals, their outpatient centers and employed physician practices. The parties have been working to reach new agreements in advance of the current contract termination, which was to have occurred on April 30.
“We are pleased to reach an agreement that avoids a potentially disruptive contract termination for our patients,” said Michael P. Halter, chief executive officer of Hahnemann University Hospital. “This extension of our agreement means that we can continue providing care to our patients who are covered by Independence Blue Cross.”
Bernadette Mangan, chief executive officer of St. Christopher’s Hospital for Children, said, “We welcome the opportunity to continue working with Independence Blue Cross to provide quality care for their members.”
“We value our longstanding relationship with Hahnemann and St. Christopher’s Hospitals and are pleased that we have achieved an understanding as the basis for a new agreement,” said I. Steven Udvarhelyi, chief medical officer and senior vice president of Independence Blue Cross. “More importantly, our members will continue to receive quality care from these institutions.”
Since mid-year 2007, Tenet announced multi-year national agreements with Aetna (NYSE: AET), CIGNA (NYSE: CI) and UnitedHealthcare (NYSE: UNH) as well as additional regional contracts including Blue Cross of California, Coventry, Blue Cross Blue Shield of Texas, and Blue Cross and Blue Shield of North Carolina.
Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related ancillary health care businesses, which include ambulatory surgery centers and diagnostic imaging centers. Tenet is committed to providing high quality care to patients in the communities we serve. Tenet can be found on the World Wide Web at www.tenethealth.com.
###
Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended Dec. 31, 2007, our quarterly reports on Form 10-Q and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise.
Contacts:
Media: Steven Campanini (469) 893-6321 Steven.Campanini@tenethealth.com
Investors: Thomas Rice (469) 893-2522 Thomas.Rice@tenethealth.com
|