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July 15, 2015

Tenet Healthcare to acquire majority stake in Carondelet Health Network

Tenet Healthcare has entered an agreement with Dignity Health and Ascension to establish a partnership to own and operate Tucson-based Carondelet Health Network in Arizona, US.

Tenet Healthcare has entered an agreement with Dignity Health and Ascension to establish a partnership to own and operate Tucson-based Carondelet Health Network in Arizona, US.

Ascension currently owns 100% interest in Carondelet, while the new deal allows Tenet to acquire a majority stake in the network. Dignity Health and Ascension will hold a minority interest in the network.

Tenet Healthcare hospital operations president Britt Reynolds said: "We look forward to the opportunity to partner with two highly respected and dedicated healthcare organisations to improve healthcare delivery to the communities of southern Arizona."

"Carondelet’s services comprise imaging centres and other ambulatory services and ancillary businesses."

Under the deal, Tenet will manage the operations of three hospitals, related physician practises, outpatient and ambulatory services and other affiliated businesses in Tucson and Nogales, Arizona.

The new partnership will add facilities, including the 486-bed St Joseph’s Hospital and 400-bed St Mary’s Hospital in Tucson, as well as 25-bed Holy Cross Hospital in Nogales.

Other facilities included in the deal are Carondelet Heart & Vascular Institute at St Mary’s Hospital, Carondelet Neurological Institute at St Joseph’s Hospital, Carondelet Medical Group and Carondelet Specialist Group.

Carondelet’s services comprise imaging centres and other ambulatory services and ancillary businesses.

Separately, Tenet and Dignity Health own and operate hospitals and clinics in the Phoenix area, as well as manage accountable care organisation Arizona Care Network (ACN).

The organisation currently includes 130 patient care facilities across Tenet’s and Dignity Health’s Phoenix-based healthcare systems.

Subject to normal regulatory reviews, the deal is expected to be completed in the third quarter of this year.

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