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Tenet, Ascension and Dignity Health finalize joint venture to own Arizona health system

Dallas-based Tenet Healthcare, St. Louis-based Ascension and San Francisco-based Dignity Health have finalized a joint venture to own and operate Carondelet Health Network based in Tucson, Ariz.

 

The organizations signed a definitive agreement in July and have now finalized the deal. Under the agreement, Tenet is the majority partner in the new joint venture and will manage the operations of the network's three hospitals, two physician groups, outpatient and ambulatory services as well as other affiliated businesses. Ascension and Dignity Health have minority interests in the partnership.

 

The joint venture will connect Carondelet to the Arizona Care Network, an accountable care organization managed by Tenet and Dignity Health.

 

More articles on healthcare industry transactions:

31 hospital transactions and partnerships in August
University Hospitals inks merger deal with Samaritan Regional Health System
South Carolina hospital on verge of closure secures new owner

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