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Triad Hospitals Inks Three Portfolio Restructuring Pacts

DALLAS-Triad Hospitals has set its 2001 course, taking full control of a Tulsa, OK hospital, selling one in Sherman, TX and abandoning a $150-million replacement project in northern San Diego County. Tulsa is the big gainer in the portfolio shuffling.

By Connie Gore | Updated on January 02, 2001

DALLAS-Triad Hospitals Inc., based in Dallas, has full control of a joint venture hospital while opting to sell one in Sherman, TX, and abandon a $150-million replacement project in northern San Diego County.

Triad is paying $44 million to Hillcrest Healthcare System for the remaining stake in the Tulsa hospial, which had opened in May 1999 under Triad’s management. The year-start news comes on the heels of the sell-off of Sherman’s Community Medical Center and a the gloom-and-doom report for San Diego County’s Mission Bay Hospital, which has been closed since Nov. 30, 2000.

The 116-bed acute-care hospital, Tulsa’s newest facility, will be adding 32 more beds, ambulatory surgery center, abutting medical office building and extra operating rooms. In addition, Triad gets an option to buy 26 abutting acres from Hillcrest for future expansion.

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