Triad Hospitals, Inc. announced today that its stockholders have adopted the Agreement and Plan of Merger, dated as of March 19, 2007, between the company, Community Health Systems, Inc. and a wholly-owned subsidiary of CHS.
Under the terms of the merger agreement, Triad stockholders will receive $54.00 per share of Triad common stock in cash, without interest. The company currently expects the transaction to close early in the third quarter of 2007, subject to various regulatory approvals and the satisfaction of all closing conditions.
Triad, through its affiliates, owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets. The company currently operates 54 hospitals (including one under construction) and 13 ambulatory surgery centers in 17 states and Ireland with approximately 9,855 licensed beds. In addition, through its QHR subsidiary, the Company provides management and consulting services to independent general acute care hospitals located throughout the United States.