Yale New Haven Health System (YNHHS) announced on Thursday that it has entered a partnership with Tenet Healthcare, an investor-owned healthcare delivery system. The two organizations plan on expanding services across the Northeast.
Although the organizations will remain independent, they will work together to create value-based contractual relationships and increased economies of scale. The partnership will also include the acquisition of Waterbury Hospital, Bristol Hospital, and Eastern Connecticut Health Network.
“This agreement continues our efforts to provide patients with accessible, patient-focused health care services in more locations,” Marna Borgstrom, CEO of YNHH, said in a Thursday press release. “In addition, Tenet’s leadership in patient care quality and innovations in technology and operational efficiency will strengthen our ability to provide even better service to our patients, employees and physicians.”
The partnership announcement comes less than two years after Yale-New Haven Hospital merged with the Hospital of St. Raphael, making YNHH the fourth largest hospital in the nation.
Tenet Healthcare Corporation, which operates hospitals and outpatient centers, and both acquires and partners with medical facilities, has more than 57,000 employees. It is listed on the S&P 500.
Date: March 7, 2014