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Triad Finalizes Joint Venture with Akron General Health System.



PLANO, Texas Plano (IPA: /ˈpleɪnoʊ/) is a wealthy suburb of Dallas, Texas, located to the north, mainly within Collin County, but also extending into Denton County. According to the 2000 U.S.  -- Triad Hospitals Triad Hospitals is a Fortune 500 company based in Plano, Texas. It operates 54 hospitals in the United States. In February 2007 it received a merger/buyout offer from another company, and then in March 2007 it received a superior merger/buyout offer from Community Health Systems of , Inc. (the "Company" or "Triad") (NYSE NYSE

See: New York Stock Exchange
: TRI TRI Toxics Release Inventory (US EPA)
TRI Touch Research Institute
TRI Taux de Rentabilité Interne (French: internal rate of return)
TRI Taux de Rentabilité Interne
TRI Tile Roofing Institute
) announced that it has closed on a definitive agreement with Akron General Health System ("Akron General") to form a joint venture, effective February 1, 2006, between Doctors Hospital of Stark County Stark County is the name of three US counties:
  • Stark County, Illinois
  • Stark County, North Dakota
  • Stark County, Ohio
, a 166-bed hospital owned by Triad, and Massillon Community Hospital, a 256-bed hospital owned by Akron General. The new venture, owned 59% by an affiliate of Triad and 41% by Akron General, assumes ownership of the existing hospitals, both of which are located in Massillon, Ohio. A Triad affiliate will manage the day-to-day operations of both hospitals. Terms of the transaction were not disclosed.

Triad, through its affiliates, owns and manages hospitals and ambulatory surgery centers ambulatory surgery center A free-standing center that performs various types of surgery  in small cities and selected larger urban markets. The Company currently operates 51 hospitals and 10 ambulatory surgery centers in 16 states with approximately 9,330 licensed beds. In addition, through its QHR QHR Quorum Health Resources
QHR Quality Hours (grading system)
QHR Quarter Horse Racing
 subsidiary, the Company provides consulting, education, intensive resources and management services to hospitals and health systems throughout the United States.

This press release contains forward-looking statements based on current management expectations. Numerous factors, including those related to market conditions and those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, may cause results to differ materially from those anticipated in the forward-looking statements. Many of the factors that will determine the Company's future results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and, therefore, actual results may differ materially. Readers should not place undue reliance on forward-looking statements, which reflect management's views only as of the date hereof. The Company undertakes no obligation to revise or update any forward-looking statements, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All references to "Company", "Triad", and "Triad Hospitals, Inc." as used throughout this document refer to Triad Hospitals, Inc. and its affiliates.
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Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Comment:Triad Finalizes Joint Venture with Akron General Health System.
Publication:Business Wire
Geographic Code:1USA
Date:Feb 2, 2006
Words:326
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