Triad Buys Hospital Stake

It's in August, Ga.
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Triad Hospitals

(TRI) - Get Report

said that it closed a transaction to form a joint venture to own and operate

St. Joseph Hospital

, a 231-bed hospital in Augusta, Ga. The new venture, owned about 65% by an affiliate of Triad and about 35% by members of the hospital's medical staff, assumes ownership of the existing hospital, and a Triad affiliate will manage the day-to-day operations. Terms of the transaction were not disclosed.

Earlier, Triad had issued guidance for fourth-quarter earnings a share from continuing operations of 54 cents to 59 cents a share; this guidance incorporates the impact of St. Joseph, the Plano, Texas-based healthcare provider said.

The company's shares closed down 10 cents at $36.93 Wednesday.

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