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Press release from Business Wire

Tenet Completes Acquisition of Emanuel Medical Center in Turlock, Calif.

Friday, August 01, 2014

Tenet Completes Acquisition of Emanuel Medical Center in Turlock, Calif.

09:00 EDT Friday, August 01, 2014

DALLAS (Business Wire) -- A subsidiary of Tenet Healthcare Corporation (NYSE:THC) has completed the acquisition of Emanuel Medical Center, a 209-bed hospital in Turlock, Calif., located about 100 miles southeast of San Francisco. The addition of Emanuel Medical Center complements the wide range of healthcare services provided by two other Tenet hospitals in the Central Valley – Doctors Medical Center of Modesto and Doctors Hospital of Manteca. Together, the three hospitals will improve the efficiency and coordination of healthcare delivery in their local communities.

“We are pleased to add Emanuel Medical Center to our network of patient care services in California's Central Valley, and look forward to working with the team of dedicated physicians and staff to expand healthcare services in the area,” said Britt T. Reynolds, president of hospital operations at Tenet.

Tenet acquired the hospital from Covenant Ministries of Benevolence, a family of Evangelical Covenant Church ministries.

“We selected Tenet to be the new owner of Emanuel Medical Center because we wanted to ensure that this vital community asset continues to serve Turlock for many decades to come,” said David Dwight, President, Covenant Ministries of Benevolence. “We are confident that we are leaving Emanuel Medical Center in good hands and that Tenet will be a dedicated and responsible steward of the hospital.”

Tenet also has named Susan Micheletti as Emanuel Medical Center's new chief executive officer, effective today. Micheletti, a highly experienced hospital executive, joins Emanuel Medical Center from San Ramon Regional Medical Center, Tenet's 123-bed acute care hospital in San Ramon, Calif. where she served as chief operating officer since June 2000. She joined San Ramon Regional Medical Center as controller when it opened in 1990 and was promoted to chief financial officer. Micheletti earned a bachelor of science degree in accounting and a master's degree in business administration, both from Santa Clara University.

“Sue Micheletti is a great fit with Emanuel Medical Center,” added Reynolds. “She is highly regarded by both employees and physicians at San Ramon Regional Medical Center, where she was primarily responsible for ensuring operational excellence in the daily activities of the hospital. She brings a wealth of talent, experience and energy to her new position at Emanuel Medical Center.”

Opened in 1917, Emanuel Medical Center is a comprehensive community hospital with services that include emergency, critical care, labor and delivery, pediatrics, cardiology and surgery. Emanuel will retain its affiliation with the Evangelical Covenant Church and its faith-based culture and practices.

Emanuel Medical Center is the 80th hospital in Tenet's national network and its 12th in California. Last month, Tenet completed the acquisition of Texas Regional Medical Center in Sunnyvale, Texas and opened Resolute Health Hospital in New Braunfels, Texas. Earlier this week, Tenet opened the DMC Heart Hospital in Detroit.

About Tenet

Tenet Healthcare Corporation, a leading healthcare services company, through its subsidiaries operates 80 hospitals, 193 outpatient centers and Conifer Health Solutions, a leader in business process solutions for healthcare providers serving more than 700 hospital and other clients nationwide. Tenet's hospitals and related healthcare facilities are committed to providing high quality care to patients in the communities they serve. For more information, please visit www.tenethealth.com.

This release contains “forward-looking statements” – that is, statements that relate to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as “expect,” “assume,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include, but are not limited to, the factors disclosed under “Forward-Looking Statements” and “Risk Factors” in our Form 10-K for the year ended December 31, 2013, and in our quarterly reports on Form 10-Q, periodic reports on Form 8-K and other filings with the Securities and Exchange Commission. The information contained in this release is as of the date hereof. The company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

Tenet uses its company website to provide important information to investors about the company including the posting of important announcements regarding financial performance and corporate developments.

Tenet Healthcare Corporation
Media:
Steven Campanini, 469-893-2640
Steven.Campanini@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com

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