Tenet Announces New Agreement with Blue Cross and Blue Shield of Illinois

Published on Thursday, 19 January 2012 09:34 Written by TradersHuddle Staff

DALLAS-( Business Wire )-

Tenet Healthcare Corporation (NYSE:THC) today announced that it signed a new multi-year agreement with Blue Cross and Blue Shield of Illinois, which will become effective March 1, 2012.

Under the new agreement, Blue Cross and Blue Shield of Illinois members will have access to health care services at Des Peres Hospital and Saint Louis University Hospital in St. Louis, Mo., as well as Tenet-owned outpatient centers and Tenet Physicians Inc., which contracts for physicians employed by various Tenet subsidiaries. Financial terms were not disclosed.

This marks the first time that Tenet has entered into a direct agreement with Blue Cross and Blue Shield of Illinois (BCBSIL). According to Tenet, this agreement gives residents in Illinois access to Saint Louis University Hospital and Des Peres Hospital without going through another network with the associated higher incremental cost.

Saint Louis University Hospital is a Level 1 trauma center licensed to serve critically ill and injured patients from both Missouri and Illinois. The hospital serves as the academic teaching hospital for the Saint Louis University School of Medicine and has expertise in complex oncology, cardiology, neurosurgery, orthopedics, liver and kidney disease and abdominal transplant. SLU Hospital has received national recognition for many of its programs and is ranked nationally for geriatric care and regionally ranked for numerous specialties in US News & World Report’s “Best Hospitals.” The hospital is a Joint Commission Primary Stroke Center.

Des Peres Hospital has been serving the health care needs of St. Louis County since 1974. The hospital is a fully accredited Chest Pain Center and an American Society of Metabolic and Bariatric Surgery Center of Excellence. The hospital has received national recognition for cardiology care from the American Heart Association’s Get With The Guidelines™ program. Des Peres Hospital also has been recognized by several national insurance companies, including Blue Cross and Blue Shield, for quality spine and joint replacement surgery.

About Blue Cross and Blue Shield of Illinois

With nearly 7 million members, BCBSIL, a division of Health Care Service Corporation, a Mutual Legal Reserve Company, is the largest health insurance company in Illinois. Started in 1936, BCBSIL is committed to promoting the health and wellness of its members and its communities through accessible, cost-effective, quality health care. BCBSIL is an independent licensee of the Blue Cross and Blue Shield Association.

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, 2010, 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 Healthcare CorporationMedia:Rick Black, 469-893-2647Rick.Black@tenethealth.comorInvestors:Thomas Rice, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.