Nu-Med to Sell 2 Hospitals to Triad Healthcare
Nu-Med Inc., an Encino health care company, said it agreed to sell two San Fernando Valley hospitals to Triad Healthcare for an undisclosed amount of cash and promissory notes.
Nu-Med said it will sell Sherman Oaks Community Hospital, which has 156 beds, and Nu-Med Regional Medical Center-West Valley, a 139-bed hospital in Canoga Park. Triad is a newly formed, Sherman Oaks-based California nonprofit corporation. Nu-Med, which would have 13 hospitals and psychiatric facilities after the sales, said it expects to close the deal about March 1.
Nu-Med has been troubled by a huge debt load it took on from buying hospitals in the mid-1980s. The company lost $3.32 million in the quarter that ended Oct. 31, compared to a loss of $2.89 million a year earlier.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
