Tenet Healthcare Corporation THC and Aetna, which is a CVS Health company CVS, recently entered into a new multi-year deal.
Per the deal, Aetna’s s members will have in-network accessibility to all the hospitals, emergency centers, outpatient centers and physicians of Tenet Healthcare.
This contract is for four years and is likely to extend to another year.
With this pact, Tenet Healthcare looks forward to providing high-quality and affordable healthcare services to the members. The transaction supports the commitment of the company’s employees, who constantly work hard on keeping the communities healthy and ensuring that they get the best health outcomes.
Notably, Aetna members would be able to gain traction from the access to advanced healthcare services across the country.
Tenet Healthcare boasts a strong network of reliable facilities and physicians that can cater to the diverse healthcare needs of Aetna’s members.
This deal is a significant move by Tenet Healthcare, which helps it reach its goal to associate with insurance companies for providing best in-class, feasible and affordable services to its members. Tenet Healthcare and Aetna have been working on forging a partnership for the past many years, and this alliance is an extension of the same.
Tenet Healthcare has an impressive inorganic growth profile. It has made numerous acquisitions, partnerships and strategic alliances, aimed primarily at boosting its scale of business, operating capacity and an expanding geographical presence. The company has constantly teamed up with industry biggies like Blue Cross Blue Shield of Texas, Cigna Corp. CI, UnitedHealth, Humana Inc. HUM and so on. All these initiatives bode well for the company’s long-term growth.
Shares of this Zacks Rank #3 (Hold) company have lost 44.5% in a year’s time against its industry’s growth of 7.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cigna Corporation (CI) : Free Stock Analysis Report
Humana Inc. (HUM) : Free Stock Analysis Report
Tenet Healthcare Corporation (THC) : Free Stock Analysis Report
CVS Health Corporation (CVS) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research