Triad Hospitals expects to receive antitrust clearance from the federal government by the end of the month for its pending $2.4 billion deal to acquire Quorum Health Group.
Dallas-based Triad filed for federal antitrust clearance with the Federal Trade Commission on Dec. 29, and the government has 30 days to clear the sale, launch an investigation or challenge it.
"We don't anticipate any problems, so we're doing all the necessary things for the transaction to close," said Triad spokeswoman Patricia Ball.
Triad first announced its intention to buy Brentwood, Tenn.-based Quorum last October to form the nation's third-largest investor-owned hospital chain (Oct. 23, 2000, p. 2). After the deal is completed, Triad expects to own or manage 51 facilities and 13 ambulatory surgery centers. It expects to complete the deal by the end of March.
Triad also is making progress in its effort to sell Quorum's hospital management subsidiary, Quorum Health Resources. According to a source who requested anonymity, proposals from interested buyers were due Jan. 3, and there were multiple bidders. Quorum's hospital management business is the largest in the nation, with contracts to manage about 210 hospitals.