Ascension, Tenet Healthcare Corporation (NYSE:THC) and Dignity Health have finalized a joint venture to own and operate Carondelet Health Network based in Tucson, Arizona. 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 in Tucson and Nogales, Arizona. Dignity Health and Ascension have minority interests in the partnership.
Tenet and Dignity Health separately own and operate hospitals and clinics in the Phoenix area and together manage a growing accountable care organization, the Arizona Care Network (ACN). The organization includes more than 750 patient care facilities across Tenet’s and Dignity Health’s Phoenix-based healthcare systems, with more than 3,400 providers and more than 200,000 covered lives.
The Tucson-based joint venture will connect Carondelet to the ACN, which will provide increased access to care for patients, strengthen and grow Carondelet’s relationships with physicians, provide development opportunities for current and future employees, and fund strategic growth initiatives across Southern Arizona.
The facilities in the new partnership include:
- St. Joseph’s Hospital (486 beds) in Tucson
- St. Mary’s Hospital (400 beds) in Tucson
- Holy Cross Hospital (25 beds) in Nogales
- Carondelet Heart & Vascular Institute at St. Mary’s Hospital
- Carondelet Neurological Institute at St. Joseph’s Hospital
- Carondelet Medical Group
- Carondelet Specialist Group
Carondelet’s services also include imaging centers and other ambulatory services and ancillary businesses.
The joint venture will maintain Carondelet’s Roman Catholic heritage and identity through an agreement with the Diocese of Tucson. Additionally, Carondelet’s existing charity care policies will remain in place.
