Tenet and Cigna Sign Multi-Year National Agreement

Establishes Cigna’s First Medicare Advantage Pay-for-Quality Agreement

DALLAS--()--Tenet Healthcare Corporation (NYSE:THC) and Cigna (NYSE: CI) have signed a new multi-year contract extension that provides Cigna’s commercial customers and Cigna-HealthSpring’s Medicare Advantage customers in-network access to Tenet’s 77 hospitals, 190 outpatient centers and more than 1,500 employed physicians.

“We are pleased that this agreement provides Cigna customers access to our entire network of quality healthcare services,” said Clint Hailey, chief managed care officer at Tenet Healthcare. “Cigna is one of our largest and most important payer relationships. This agreement provides multi-year coverage stability for their customers, and we look forward to continuing our collaboration to improve quality outcomes and cost effectiveness.”

The Cigna-HealthSpring agreement includes an innovative pay-for-quality arrangement that rewards Tenet hospitals for improved quality of care and cost efficiency, which, for the first year, will be based on national quality measures established by the Centers for Medicare and Medicaid Services. This arrangement is the first of its kind between Cigna and a healthcare system. Additionally, beginning in July, Tenet and Cigna will establish a Cigna Collaborative Care arrangement in Atlanta.

“We’re pleased that we were able to reach an agreement with Tenet that’s in the best interests of our clients and customers and that will enable our customers to receive high-quality care at Tenet hospitals and other facilities without interruption,” said John Wray, Cigna's senior vice president for network contracting and delivery system collaborations. “We look forward to working in partnership with Tenet over the next several years to help our customers improve their health and well-being.”

About Tenet

Tenet Healthcare Corporation, a leading healthcare services company, through its subsidiaries operates 77 hospitals, 190 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.

About Cigna

Cigna Corporation is a global health service company dedicated to helping people improve their health, well-being and sense of security. All products and services are provided exclusively through operating subsidiaries of Cigna Corporation, including Connecticut General Life Insurance Company, Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Life Insurance Company of New York and their affiliates. Such products and services include an integrated suite of health services, such as medical, dental, behavioral health, pharmacy and vision care benefits, and other related products including group disability, life, and accident coverage. Cigna has sales capabilities in over 30 countries and jurisdictions, with over 80 million customer relationships throughout the world. To learn more about Cigna®, including links to follow us on Facebook or Twitter, visit www.cigna.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.

Contacts

Tenet Healthcare Corporation
Media:
Steven Campanini, 469-893-2640
Steven.Campanini@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com
or
Cigna Corporation
Media:
Mark Slitt, 860-226-2092
Mark.Slitt@cigna.com

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Contacts

Tenet Healthcare Corporation
Media:
Steven Campanini, 469-893-2640
Steven.Campanini@tenethealth.com
or
Investors:
Thomas Rice, 469-893-2522
Thomas.Rice@tenethealth.com
or
Cigna Corporation
Media:
Mark Slitt, 860-226-2092
Mark.Slitt@cigna.com