Triad Finalizes Venture with Montclair Baptist Medical Center

PLANO, Texas -- Triad Hospitals, Inc. has finalized an agreement which was effective Oct. 1, 2005 with Baptist Health System (BHS) to form a venture to own Montclair Baptist Medical Center, a 560-bed hospital in Birmingham, Ala. The new venture,  65 percent owned by an affiliate of Triad and 35 percent by BHS, assumes ownership for the hospital and plans to construct a replacement hospital. A Triad affiliate will manage the day-to-day operations of Montclair. Terms of the transaction were not disclosed.

"We are excited about the opportunity to be a partner with BHS and look forward to working with the Birmingham community to ensure that Montclair continues as a strong provider," said James D. Shelton, Triad chairman and CEO. "I have been impressed with the quality of physicians, employees and volunteers and believe that our common values will make this a very successful venture."

In addition to Montclair, Triad operates five other hospitals in Alabama: Crestwood Medical Center, Huntsville; Flowers Hospital, Dothan; Gadsden Regional Medical Center, Gadsden; Jacksonville Medical Center, Jacksonville; and Medical Center Enterprise, Enterprise

Triad, through its affiliates, owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets. Excluding Central Arkansas Hospital, which is held for sale, the company currently operates 52 hospitals and 10 ambulatory surgery centers in 15 states with approximately 9,125 licensed beds. In addition, through its QHR subsidiary, the company provides hospital management, consulting and advisory services to more than 180 independent community hospitals and health systems throughout the United States.

Source: Triad