DASCO COMPANIES, Tenet Healthcare Corporation AND Dr. Anthony K. Hedley To Develop Biltmore Medical Mall.

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--July 10, 1997--DASCO COMPANIES (a wholly owned subsidiary of PhyMatrix Corp. (Nasdaq - PHMX), in conjunction with Tenet Healthcare Corporation (THC: NYSE, PSE) and Dr. Anthony K. Hedley's Institute for Bone and Joint Disorder announce plans to develop a 160,000 square foot medical mall facility in Phoenix, Arizona. Biltmore Medical Mall will be located on the corner of Highland Avenue and 22nd Street.

According to Bill Murray, Senior Vice President - Operations, Tenet HealthSystem - Arizona Region, "The Biltmore Medical Mall continues Tenet's mission of redefining how healthcare is delivered. The Medical Mall will increase our patient's access to innovative care through Tenet's physician and acute care network in Phoenix. We are pleased to have Dr. Hedley and DASCO as our partners in the development of this extraordinary project."

This project will be anchored initially by two major healthcare providers in Phoenix. Tenet Healthcare Corporation is the second-largest hospital management company in the United States. Tenet operates 149 acute care hospitals in 22 states, which includes 7 hospitals in Arizona with over 700 inpatient hospital beds in the metropolitan Phoenix market and has more than 1500 physicians within its local system.

In addition, Arizona's premier orthopedic and related therapy center, the world-renown Institute for Bone and Joint Disorder, will also anchor this facility with their prestigious practice consisting of the following physicians: Anthony K. Hedley, M.D., Edward D. Campbell, Jr., M.D., H. Royer Collins, M.D., Alvin B. Elisco, M.D., Theodore P. Firestone, M.D., Stanley C. Graves, M.D., D. Ross Halliday, M.D. and Richard I. Zipnick, M.D.

Dr. Hedley has been directly involved with planning and development since the project's inception. "I am eagerly awaiting the advent of this center. I have been involved in its conceptualization for almost three years, and find the entire concept very exciting. This will allow practicing surgeons and physicians to treat patients in an environment that is specifically designed as a medical mall. The services will all be under one roof and patients will be able to access excellent care in a single cost-effective and efficient environment", said Dr. Hedley.

Hedley continued, "With the changing attitudes and methodologies in medical care today, the center offers us the opportunity to be highly innovative in treating our patients in a non-hospital environment. This can only be of benefit in speeding the patient's return to the home environment and also providing them with some updated and upscale, rehabilitation after surgery. We are all very excited about the prospects and look forward to entering a new era in our patient management."

Other health services provided in the Biltmore Medical Mall will include an Ambulatory Surgery Center, Physical Therapy, Sports Medicine Center, Health Related Education Center, Radiology, and other outpatient related services.

According to Bruce A. Rendina, Vice Chairman of PhyMatrix Corp. and President and Chief Executive Officer of DASCO, "By strategically aligning physicians and healthcare services in the Biltmore Medical Mall, the surrounding community will benefit from the convenient one-stop care a medical mall atmosphere will provide. DASCO is pleased to be the facilitator in this major joint venture effort." Rendina added, "Physicians in the Phoenix area will benefit from having the opportunity to align their services in a cost-effective, efficient system that will thrive within the managed care environment and adapt to the future changes in the healthcare system."

According to Douglas G. Lerner, Director of Medical Office Building Development for Tenet Healthcare Corporation, "Tenet is pleased with their decision to partner with DASCO on the Biltmore Medical Mall project. In the 9 projects they have already completed for Tenet throughout the U.S., DASCO has met our high expectations and fulfilled our development needs on a consistent basis. DASCO brings all the resources necessary to get the job done."

DASCO will provide all project funding for Biltmore Medical Mall. In addition, DASCO will provide significant ownership in the project to the healthcare providers that lease space in the new medical mall. Founded in 1985, DASCO COMPANIES is the nation's leading full-service, medical real estate development and management company. With offices in Atlanta, Boston, Dallas, Las Vegas, Philadelphia, San Diego and West Palm Beach, DASCO has become a leader in the development of Medical Malls and is the only firm in the country that has garnered all the resources necessary to develop Medical Malls through the turn-key approach. DASCO has become the leading resource for Medical Mall development and innovation throughout the country.

CONTACT: Bruce A. Rendina

President and CEO, DASCO COMPANIES

1-800-452-8121.

OR

For additional information on DASCO,

visit our web site at

http://www.dascomed.com

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