A Medical Device Daily

Franklin & Seidelmann Subspecialty Radiology (F&S; Cleveland) reported that it will receive a $25 million investment from Oak Investment Partners.

The company said the investment will be used to expand its product offering, improve its client support services, enhance its technology platform and expand its workforce to support its growing client base, subspecialty radiology team and case volume.

F&S provides imaging centers, physician practices, radiology groups and hospitals around the country with subspecialty teleradiology services as a cost-effective strategy to access a comprehensive network of subspecialty radiologists on a full-time or as-needed basis.

“This investment will enable us to support our growing report volumes, accelerate our technology infrastructure spending plans, and maintain our focus on delivering high quality, proactive services to clients,” said F&S co- founder Dr. Frank Seidelmann.

F&S also reported that Ann Lamont, a managing partner at Oak Investment Partners, will join its board of directors.

Community Health Systems (CHS; Franklin, Tennessee) reported that as of 5:00 p.m., EST, on June 13, about $299.97 million in aggregate principal amount of its 6-1/2% senior subordinated notes due 2012, representing about 99.99% of the total outstanding principal amount of the notes has been validly tendered in connection with its cash tender offer and consent solicitation.

The company said it expects to execute a supplemental indenture to the indenture governing the notes in connection with the delivery of the consents.

The company’s obligation to accept for purchase, and to pay for, notes is subject to the satisfaction or waiver of certain conditions, including, among others, the satisfaction of all conditions to the consummation of the company’s proposed $6.8 billion merger with Triad Hospitals (Plano, Texas), which through its affiliates, owns and manages hospitals and ambulatory surgery centers in small cities and selected larger urban markets.

The offer will expire at midnight, EST, on July 10, 2007, unless further extended or earlier terminated by the company.

CHS is an operator of general acute care hospitals in non-urban communities throughout the country. Through its subsidiaries, the company currently owns, leases or operates 80 hospitals in 23 states.

In a separate statement, Triad Hospitals reported that, in connection with its cash tender offer for all $600 million aggregate amount of 7% senior notes due 2012 and $600 million aggregate principal amount of 7% senior subordinated notes due 2013, holders of about $587.3 million (97.9%) and $583.5 million (97.3%) of the respective series have tendered their notes for the offering, representing the requisite number of consents to adopt the proposed amendments to the senior subordinated notes and the indenture governing the senior subordinated notes.

The offer will expire at midnight, EDT, on July 10, unless further extended or earlier terminated by the company.

Credit Suisse Securities (USA) and Wachovia Securities have been retained to act as dealer managers in connection with the tender offer and consent solicitation.