Agreement calls for selling Carondelet hospitals
By Stephanie Innes, The Arizona Daily Star, Tucson | |
McClatchy-Tribune Information Services |
Current
A spokesman from Ascension would not say whether the joint venture would be for profit or nonprofit. The news release says the agreement would maintain Carondelet's identity, heritage and Catholic sponsorship.
Officials with the network -- which consists of St. Mary's and
Company officials refused to disclose details of the pending agreement and declined further comment.
The
The network has a workforce of about 3,500 and is the second-largest local health system behind the
The UA Health Network is in the midst of negotiating a sale to the nonprofit
Both the Banner and the Tenet-Dignity deals would connect local hospitals with larger regional health systems, consistent with a national trend of consolidations, mergers and acquisitions in the hospital business.
For-profit Tenet is a publicly traded company and also one of the country's largest health systems. Tenet officials declined comment Tuesday.
The company's website says it operates hospitals in 14 states, including six in the
The
The Catholic nonprofit's hospitals -- St. Mary's,
Tenet would be the majority partner with management responsibility for all three of Carondelet's
In a memo to employees and board members sent Tuesday, Carondelet Chief Executive Officer
Tenet would have management responsibility for the operations of all of Carondelet's health system assets, including the
"We are excited to pursue this relationship with
"While you may have many questions right now, this is all of the detail that we can provide to you at this time. Much due diligence will be required by all parties over the next 90 days," he continued.
In
Carondelet has a long history in the
The Sisters of
The company has shown recent signs of financial strain.
Carondelet bought 80 percent of the north-side
Construction of the planned multimillion-dollar
The 14,000-square-foot clinic, which was to focus on primary care, would be built on property Carondelet had previously planned to use for a hospital. Those plans were shelved in the recession.
Last year the network laid off 40 people at its head office in
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