Business
Triad goes private
NEWS IN BRIEF — Posted Feb. 26, 2007
Texas-based for-profit Triad Hospitals announced Feb. 5 that it has accepted a $4.7 billion buyout offer from two private-equity firms.
CCMP Capital Advisors and GS Capital Partners agreed to pay $3 billion in cash and assume about $1.7 billion of Triad debt. The Triad deal follows HCA's sale to private owners last year in a $33 billion deal, including the assumption or repayment of nearly 12 billion in HCA's debt.
Triad operates 54 hospitals and 13 ambulatory surgery centers in 17 states. Triad was once part of HCA but was spun off in 1999.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/02/26/bibf0226.htm.