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Tenet Healthcare : and Cigna Extend and Expand Network Access

09/02/2021 | 04:08pm EDT

Multi-year agreement provides Cigna customers with continued in-network access to Tenet providers through 2025

Tenet Healthcare Corporation (NYSE: THC) and Cigna Corporation (NYSE: CI) today announced that they have extended and expanded their network access through the signing of a new multi-year contract. The agreement will provide Cigna customers with continued in-network access through 2025 to Tenet’s hospitals, physician clinics and outpatient centers, including the ambulatory facilities operated by United Surgical Partners International that are consolidated in Tenet’s financial statements.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210902005729/en/

“We are pleased to have reached this agreement with Cigna four months earlier than the expiration of our current contract,” said Ronald A. Rittenmeyer, Executive Chairman of Tenet Healthcare. “The pandemic has brought many challenges for our patients and providers, underscoring the importance of ensuring uninterrupted, in-network access to the quality physicians and care facilities Cigna members know and trust. This includes a broader network of lower-cost ambulatory surgery centers that are part of the multi-year agreement.”

“This agreement builds on our long-standing efforts to ensure millions of Cigna customers can access affordable, quality care from the skilled providers of Tenet Healthcare,” said Mike Triplett, President of U.S. Commercial for Cigna. “Together, we will continue to enhance the healthcare experience for patients while improving the health, well-being and peace of mind of the communities we serve.”

The contract has an effective date of January 1, 2022.

About Tenet Healthcare

Tenet Healthcare Corporation (NYSE: THC) is a diversified healthcare services company headquartered in Dallas with 102,000 employees. Through an expansive care network that includes United Surgical Partners International, we operate 60 hospitals and more than 460 other healthcare facilities, including surgical hospitals, ambulatory surgery centers, imaging centers and other care sites and clinics. We also operate Conifer Health Solutions, which provides revenue cycle management and value-based care services to hospitals, health systems, physician practices, employers and other clients. Across the Tenet enterprise, we are united by our mission to deliver quality, compassionate care in the communities we serve. For more information, please visit www.tenethealth.com.

About Cigna

Cigna Corporation is a global health service company dedicated to improving the health, well-being and peace of mind of those we serve. Cigna delivers choice, predictability, affordability and access to quality care through integrated capabilities and connected, personalized solutions that advance whole person health. All products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Evernorth companies or their affiliates and Express Scripts companies or their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy, vision, supplemental benefits and other related products. Cigna maintains sales capability in over 30 countries and jurisdictions, and has over 190 million customer relationships around the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.com.

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Financials (USD)
Sales 2021 19 658 M - -
Net income 2021 601 M - -
Net Debt 2021 13 169 M - -
P/E ratio 2021 11,5x
Yield 2021 -
Capitalization 6 804 M 6 804 M -
EV / Sales 2021 1,02x
EV / Sales 2022 0,98x
Nbr of Employees 97 900
Free-Float 67,8%
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Technical analysis trends TENET HEALTHCARE CORPORATION
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 63,56 $
Average target price 82,59 $
Spread / Average Target 29,9%
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Managers and Directors
Saumya Sutaria President, CEO, Chief Operating Officer & Director
Daniel J. Cancelmi Chief Financial Officer & Executive Vice President
Ronald A. Rittenmeyer Executive Chairman
Paola M. Arbour Chief Information Officer & Executive VP
Howard B. Hacker Chief Compliance Officer & Executive VP
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