Triad Finalizes Venture with Deaconess Hospital

PLANO, Texas -- Triad Hospitals, Inc. finalized an agreement today with Deaconess Health Care Corporation (DHCC) to form a venture to operate Deaconess Hospital, a 313-bed not-for-profit hospital in Oklahoma City. The new venture, 80 percent owned by Triad and 20 percent by DHCC, assumes responsibility today for the hospital's ongoing operations.

"We are excited about the opportunity to be associated with such an outstanding institution and look forward to working with the Oklahoma City community to ensure that Deaconess continues as a strong provider," said James D. Shelton, Triad chairman and CEO. "I have been impressed with the quality of physicians, hospital leadership, employees, and volunteers and believe that our common values will make this a very successful venture." In addition to Deaconess, Triad operates three other facilities in Oklahoma -- SouthCrest Hospital in Tulsa, Claremore Regional Hospital in Claremore, and Woodward Regional Hospital in Woodward.

Triad, through its affiliates, owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets. The company currently operates 53 hospitals and 14 ambulatory surgery centers in 15 states with approximately 8,650 licensed beds. In addition, through its QHR subsidiary, the company provides hospital management, consulting and advisory services to more than 200 independent community hospitals and health systems throughout the United States.

Source: Triad