Healthcare Business News

Tenet makes new moves in Texas, Florida

By Bob Herman
Posted: June 4, 2014 - 4:00 pm ET

Tenet Healthcare Corp. is continuing to build its hospital network and implement value-based strategies throughout the South.

The Dallas-based for-profit hospital chain unveiled two deals Tuesday. In Texas, Tenet bought a majority ownership stake in Texas Regional Medical Center in Sunnyvale, a town about 16 miles east of Dallas. Details of its ownership interest were not disclosed. The 70-bed hospital was a physician-owned facility, and the physician owners will retain a minority interest.

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Texas Regional CEO Stephen Garrison said in a news release that the hospital was “a natural fit within Tenet's network of health services” in the Dallas region, which includes three other acute-care hospitals and 12 outpatient centers.

Tenet has been somewhat quiet on the acquisition front since it completed its Vanguard Health Systems transaction last year, although in March, the company signed a partnership agreement with Yale New Haven Health System in New Haven, Conn.

In Florida on Tuesday, Tenet signed an accountable-care contract with Florida Blue. Retroactive to June 1, 10,000 Florida Blue members in South Florida will receive in-network rates for Advantage Health Network, Tenet's ACO. The ACO includes 10 acute-care hospitals, a children's hospital, 36 outpatient centers and more than 900 physicians.

“Tenet's ACOs are changing the way physicians coordinate and deliver patient care by reducing readmissions, ER visits and unnecessary duplication of services,” Clint Hailey, Tenet's senior vice president of managed care, said in a statement. “The clinical programs our ACOs continue to implement are improving care delivery and the overall patient experience, and we are pleased to welcome Florida Blue's members into the Advantage Health Network.”

Follow Bob Herman on Twitter: @MHbherman

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