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New Coventry Health Care Agreement Includes All Tenet Hospitals in Texas and California

Posted on: Thursday, 20 December 2007, 18:00 CST

Tenet Healthcare Corporation (NYSE:THC) today announced that it has signed a multi-year agreement with Coventry Health Care (NYSE:CVH) to include all of its hospitals, outpatient and ambulatory centers in Texas and California. Financial terms of the agreement were not disclosed.

The following hospitals are being added to the Coventry PPO and First Health:

-- Houston Northwest Medical Center, 508 beds, Houston, Texas

-- Providence Memorial Hospital, 508 beds, El Paso, Texas

-- Doctors Medical Center of Modesto, 465 beds, Modesto, Calif.

-- Park Plaza Hospital, 446 beds, Houston, Texas

-- USC University Hospital, 411 beds, Los Angeles, Calif.

-- Desert Regional Medical Center, 367 beds, Palm Springs, Calif.

-- Sierra Medical Center, 351 beds, El Paso, Texas

-- Cypress Fairbanks Medical Center, 180 beds, Houston, Texas

-- Los Alamitos Medical Center, 167 beds, Los Alamitos, Calif.

-- John F. Kennedy Memorial Hospital, 145 beds, Indio, Calif.

-- Community Hospital of Los Gatos, 143 beds, Los Gatos, Calif.

-- Centennial Medical Center, 118 beds, Frisco, Texas

-- Sierra Providence Eastside Hospital, 100 beds, El Paso, Texas, which is scheduled to open in 2008

Garden Grove Hospital and Medical Center, a 167-bed hospital in Garden Grove, Calif., and Placentia-Linda Hospital, a 114-bed hospital in Placentia, Calif., are being added to the Coventry PPO network.

Renewal terms are in place for the remaining nine hospitals in California and three in Texas that were already part of the Coventry provider network.

"This agreement adds a significant number of our hospitals in these two states to the Coventry Health Care provider network, and we fully anticipate that the agreement will result in additional volumes for our hospitals in California and Texas," said Clint Hailey, Tenet's chief managed care officer. "Our goal is to afford our health plan partners with access to all of our hospitals at comparable pricing levels for each health plan, and this agreement accomplishes that aim."

Tenet recently announced it has reached national contracts for all its hospitals with UnitedHealthcare and Aetna. It also has successfully negotiated regional contracts for its hospitals with Blue Cross Blue Shield of Texas.

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 for the year ended Dec. 31, 2006, our quarterly reports on Form 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.

Source: Business Wire

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