Nu-Med Sells 2 Hospitals to Triad Healthcare
Nu-Med Inc., an Encino health care services company, said it completed the sale of two acute care hospitals and related assets in Southern California to Triad Healthcare, a California nonprofit corporation, for $135 million.
The hospitals sold are the 156-bed Sherman Oaks Community Hospital and the 139-bed Nu-Med Regional Medical Center-West Valley in Canoga Park.
The purchase price included about $110 million in cash and $25 million in notes. Nu-Med said about $100 million of the cash proceeds will be used to reduce its debt and to pay other obligations. The rest of the proceeds will be used for working capital and general corporate purposes, the company said.