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Triad Hospitals Inks Joint Venture

It will own and operate a hospital in Tennessee.

Triad Hospitals

(TRI) - Get Thomson Reuters Corporation Report

and Gateway Health System formed a joint venture to own and operate Gateway Medical Center, a 206-bed hospital in Clarksville, Tenn.

A Triad affiliate will own 80% of the new venture while the remaining 20% will be held by Gateway Health System. The terms of the transaction were not disclosed.

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The new venture will assume ownership of the existing hospital and plans to construct a 270-bed replacement hospital. A Triad affiliate will manage the day-to-day operations of Gateway.

Plano-based Triad Hospitals, through its affiliates, currently owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets. The company provides consulting, education, intensive resources and management services to hospitals.

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