Triad Hospitals Explained
Triad Hospitals was a hospital operator based in Plano, Texas. Spun off from Hospital Corporation of America in 1999, it acquired Quorum Health Group in 2000 to become the third-largest investor-owned hospital group.[1] [2] It was merged into Community Health Systems in 2007.
In February 2007 it received a merger/buyout offer from Goldman Sachs Capital Partners and CCMP Capital. It received a superior merger/buyout offer in March 2007 from Community Health Systems of $54/share.[3] The buyout was completed in July 2007.
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Notes and References
- News: Patricia B. . Limbacher . Columbia Details Spinoffs: Two New Companies Would Control 64 Hospitals . Modern Healthcare . 1998-12-21 . Last week, Columbia/HCA Healthcare Corp. filed notice with the Securities and Exchange Commission detailing its plans to spin off two new companies, which would control 64 hospitals. One company, to be called Triad, will have 42 hospitals and will be based in Dallas. It was formerly the Pacific Group, a division formed by Columbia last year. Triad also will include 19 outpatient surgery centers..
- http://www.bizjournals.com/dallas/stories/2000/10/16/daily19.html Triad buys Quorum Health Group to form third-largest network
- News: Reuters . Community Health to Buy Triad Hospitals for $5.1 Billion . New York Times . 2007-03-20 .
