Tenet and Aetna Sign New National Multi-Year Agreement

DALLAS--(BUSINESS WIRE)-- Tenet Healthcare Corporation (NYSE: THC) and Aetna (NYSE: AET) announced today that they have signed a new multi-year agreement.

Under this agreement, which took effect January 1, 2011, members of Aetna commercial and Medicare Advantage health plans will be able to continue receiving covered health care services from Tenet facilities and physicians. The agreement includes all of Tenet’s 49 hospitals as well as Tenet’s 81 freestanding diagnostic imaging centers and ambulatory surgery centers nationwide. Tenet Physicians, Inc., which contracts for nearly 500 physicians employed by various Tenet subsidiaries, also is part of the agreement. The physicians represented by Tenet Physicians Inc. include traditional primary care specialties (family practice, internal medicine, obstetrics/gynecology and pediatrics), as well as medical and surgical specialties.

“We value our long-standing relationship with Aetna and are very pleased with the new agreement. We continue to work closely together to provide Aetna members access to quality health care at lower costs through multiple types of innovative network benefit solutions,” said Stephen L. Newman, M.D., Tenet’s chief operating officer.

“Tenet’s facilities and its affiliated doctors have been integral parts of Aetna’s networks for many years. We’re glad that our members will continue to access their quality health care services,” said Carl King, head of Aetna National Networks and Contracting Services.

Tenet Healthcare Corporation is a health care services company whose subsidiaries and affiliates own and operate acute care hospitals, ambulatory surgery centers and diagnostic imaging centers. Tenet’s hospitals and related healthcare facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.

Some of the statements in this release may constitute forward-looking statements. Such forward-looking 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, 2009, 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.

Tenet uses its company web site to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.



CONTACT:

Tenet Healthcare Corporation
Media:
Rick Black, 469-893-2647
[email protected]
or
Investors:
Thomas Rice, 469-893-2522
[email protected]

KEYWORDS:   United States  North America  Texas

INDUSTRY KEYWORDS:   Health  Hospitals  Professional Services  Insurance  Managed Care

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