Philadelphia (April 30, 2008) – Hahnemann University Hospital, St. Christopher’s Hospital for Children and Independence Blue Cross (IBC) announced today that they have reached agreement in principle on terms of new contracts. They have extended their current agreements while they define terms for new multi-year contracts. Hahnemann and St. Christopher’s are both part of Tenet Healthcare Corporation’s (NYSE: THC) national network of hospitals. The parties will continue to work together to finalize details of the new contracts with a targeted effective date of July 1, 2008.
Members of IBC will continue to have access to health care services offered at the two hospitals, their outpatient centers and employed physician practices. The parties have been working to reach new agreements in advance of the current contract termination, which was to have occurred on April 30.
“We are pleased to reach an agreement that avoids a potentially disruptive contract termination for our patients,” said Michael P. Halter, chief executive officer of Hahnemann University Hospital. “This extension of our agreement means that we can continue providing care to our patients who are covered by Independence Blue Cross.”
Bernadette Mangan, chief executive officer of St. Christopher’s Hospital for Children, said, “We welcome the opportunity to continue working with Independence Blue Cross to provide quality care for their members.”
“We value our longstanding relationship with Hahnemann and St. Christopher’s Hospitals and are pleased that we have achieved an understanding as the basis for a new agreement,” said I. Steven Udvarhelyi, chief medical officer and senior vice president, Independence Blue Cross. “More importantly, our members will continue to receive quality care from these institutions.”
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