Yale New Haven Health System and Tenet Healthcare announce partnership

New Haven and Dallas — 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 Tenet

Tenet 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.

Yale New Haven Hospital (YNHH), part of Yale New Haven Health, is a nationally recognized, 1,541-bed, not-for-profit hospital serving as the primary teaching hospital for the Yale School of Medicine (YSM). Founded as the fourth voluntary hospital in the U.S. in 1826, today, YNHH has two New Haven-based campuses, and also includes Yale New Haven Children's Hospital, Yale New Haven Psychiatric Hospital and Smilow Cancer Hospital. YNHH has received Magnet designation from the American Nurses Credentialing Center, the nation’s highest honor of nursing excellence. YNHH has a combined medical staff of about 4,500 university and community physicians practicing in more than 100 specialties. www.ynhh.org