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October 07, 1994|From Times Staff and Wire Reports

Triad Healthcare Inc. to Sell or Lease Hospital: The Encino firm, whose bankruptcy earlier this year cast a cloud of uncertainty over two San Fernando Valley hospitals it owns, said it will sell or lease one of the facilities to raise money to repay its debts, among them a defaulted loan insured by the state. The company said it is seeking a buyer for its money-losing West Valley Hospital and Health Center in Canoga Park, a 139-bed facility known locally for its programs for expectant mothers and the elderly. Triad acquired the hospitals in 1991 with the help of a $167-million loan guaranteed by the state. The firm defaulted in July, 1993.

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