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July 22, 2014 01:00 AM

Ascension Health plans joint-venture with Dignity, Tenet to run Ariz. hospitals

Beth Kutscher
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    Ascension Health plans to transfer part of its ownership in the Carondelet Health Network in Arizona into a three-way joint venture that includes Tenet Healthcare Corp. and Dignity Health.

    The three hospital groups Tuesday signed a letter of intent (PDF) to form a Tucson, Ariz.-based joint venture in which Tenet would hold a majority stake and Ascension would be a minority partner. Dignity Health also would hold an undisclosed interest in the joint venture, which would own and operate Carondelet.

    The partnership would also allow Carondelet's three hospitals to participate in accountable care organizations and other initiatives with Tenet and Dignity's hospitals in Southern Arizona.

    Carondelet will retain its Catholic identity under the joint venture.

    Tenet last year acquired five Phoenix-area hospitals as part of its takeover of Vanguard Health Systems. San Francisco-based Dignity has three hospitals in the Phoenix region.

    The Carondelet Health System includes 449-bed St. Joseph's and 429-bed St. Mary's hospitals, both in Tucson, as well as 56-bed Holy Cross Hospital in Nogales, Ariz., the Carondelet Medical Group, the Carondelet Specialist Group and ancillary businesses.

    Ascension did not break out revenue for the group in its most recent annual report. However, its utilization statistics (PDF) showed a 7.5% decline in acute discharges between 2012 and 2013 in Tucson and Nogales. Admissions across all of Ascension's hospitals increased 1.3% year-over-year.

    The three parties are conducting due diligence, they said in a news release said. They did not disclose a timeline for a definitive agreement.

    Ascension declined to comment. In February, the St. Louis, Mo.-based system dropped plans to sell its two-hospital Kansas City subsidiary, also known as Carondelet Health, to investor-owned HCA. The deal was abandoned after a prolonged Federal Trade Commission review.

    Follow Beth Kutscher on Twitter: @MHbkutscher

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    • News
      • Current News
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      • Transformation
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        • Operations
        • Care Delivery
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      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Opinion
      • Bold Moves
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      • Vital Signs Blog
      • From the Editor
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        • Nominate/Eligibility
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        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
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