Tenet's St. Louis Hospitals Sign New Contracts With Anthem Blue Cross and Blue Shield, HealthLink.DALLAS -- Tenet Healthcare Corporation (NYSE NYSE See: New York Stock Exchange :THC THC tetrahydrocannabinol. THC n. Tetrahydrocannabinol; a compound that is obtained from cannabis or is made synthetically; it is the primary intoxicant in marijuana and hashish. ) announced today that Des Peres Hospital and Saint Louis University Hospital Saint Louis University Hospital is a hospital in St. Louis, Missouri named after Saint Louis, a former French king. Saint Louis University Hospital, also widely known as SLU Hospital, has been owned by the Tenet corporation since the university sold it in 1998. in St. Louis have entered into a new two-year agreement with Anthem Blue Cross and Blue Shield Blue Shield A US not-for-profit health care insurer that is a reimbursement intermediary for physicians. Cf Blue Cross. . The contract runs through December 2008. Financial terms were not disclosed. A separate two-year agreement was reached with HealthLink. Both companies are part of WellPoint Inc. (NYSE:WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ). Under the agreement, plan members of these managed care payors will have access to health care services offered at both hospitals. The hospitals have been working with Anthem Blue Cross and Blue Shield to reach a new agreement following the announcement in late August 2006 that the two hospitals intended to terminate their contract with Anthem Blue Cross and Blue Shield due to low reimbursement rates. "We are pleased to reach a successful conclusion to these negotiations," said Clint Hailey, Tenet's vice president, managed care, national accounts. "This agreement demonstrates Tenet's commitment to maintaining fair contracts with our managed care partners. Last summer, we terminated the Anthem contract because it was uneconomic. Today, we have a new agreement that adequately reflects the quality of care provided by these two hospitals." Tenet Healthcare Corporation, through its subsidiaries, owns and operates acute care hospitals and related health care services. Tenet's hospitals aim to provide the best possible care to every patient who comes through their doors, with a clear focus on quality and service. Tenet can be found on the World Wide Web at www.tenethealth.com. Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2005, our quarterly reports on Form 10-Q Form 10-Q See 10-Q. and periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We make no promise to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events or otherwise. |
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