Tenet Acquires Majority Interest in Texas Regional Medical Center in Sunnyvale, Texas

Business Wire

DALLAS--(BUSINESS WIRE)--

A subsidiary of Tenet Healthcare Corporation (THC) has acquired a majority interest in Texas Regional Medical Center at Sunnyvale, a 70-bed hospital in Sunnyvale, Texas, located 15 miles east of downtown Dallas.

“We are pleased to add Texas Regional Medical Center to our network and look forward to working with the team of loyal and high-quality medical staff to bring additional services and investment to residents in the area,” said Trevor Fetter, president and chief executive officer of Tenet.

The addition of Texas Regional Medical Center complements Tenet’s quality services at its three other Dallas-area hospitals – Lake Pointe Medical Center in Rowlett, Doctors Hospital of White Rock Lake in Dallas and Centennial Medical Center in Frisco – and 12 outpatient centers in the market. The hospital serves an area of Dallas with a population growth of 2.5 percent annually, which is nearly four times the national rate.

“Texas Regional Medical Center is a natural fit within Tenet’s network of health services in the east Dallas area,” said Stephen Garrison, chief executive officer of Texas Regional Medical Center. “We are excited to join the talented physicians, nurses and staff of Tenet Healthcare.”

Open since 2009, Texas Regional Medical Center is a comprehensive community hospital with services that include a cardiovascular center, spine program, obstetrics program and neonatal intensive care unit, surgical weight loss program and an emergency department. Physician owners continue to retain a minority interest in the hospital.

About Tenet

Tenet Healthcare Corporation, a leading healthcare services company, through its subsidiaries operates 78 hospitals, 189 outpatient centers and Conifer Health Solutions, a leader in business process solutions for healthcare providers serving more than 700 hospital and other clients nationwide. 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.

This release contains “forward-looking statements” – that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “assume,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to, the factors disclosed under “Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the year ended December 31, 2013, and in our quarterly reports on Form 10-Q, periodic reports on Form 8-K and other filings with the Securities and Exchange Commission. The information contained in this release is as of the date hereof. The company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

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Contact:
Tenet Healthcare Corporation
Media:
Steven Campanini, 469-893-2640
Steven.Campanini@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com

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