This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MedCath Announces Completion Of Sale Of Arkansas Heart Hospital

Stocks in this article: MDTH

CHARLOTTE, N.C., Aug. 1, 2011 /PRNewswire/ -- MedCath Corporation (Nasdaq: MDTH) announced today the completion of the sale of its ownership interest and management rights in Arkansas Heart Hospital to AR-MED, LLC., which is majority owned by Dr. Bruce Murphy, a physician affiliated with Little Rock Cardiology Clinic, P.A., and a current investor in the Arkansas Heart Hospital. The transaction was announced in May and was subject to MedCath stockholder approval and other customary closing conditions listed in the Equity Purchase Agreement. Navigant Capital Advisors provided advisory services to MedCath related to the transaction.

Together with the sale of the majority of the assets of Heart Hospital of New Mexico also announced today, MedCath has completed nine transactions since announcing in March 2010 it had formed a Strategic Options Committee to consider the sale either of the entire company or its assets. Since October, MedCath has announced the completion of sales involving the following four hospitals: Arizona Heart Hospital, Avera Heart Hospital of South Dakota, Heart Hospital of Austin and TexSan Heart Hospital. In addition, MedCath's Partners division sold its minority interest it held in Southwest Arizona Heart and Vascular, LLC in November, and in May, it completed the sale of its ownership interest and management agreement in Coastal Carolina Heart, as well as the sale of the majority of its assets to DLP Healthcare, a joint venture of LifePoint Hospitals and Duke University Health System.

For 14 years, MedCath worked closely with the Arkansas Heart Hospital's physician leadership, expanding the number of beds by 33 percent and helping the hospital earn several honors. Those include a Health Grades 2011 Outstanding Patient Experience Award, and two awards from the Arkansas Foundation for Medical Care in 2005, one for Hospital Quality Achievement and one for Innovation in Healthcare. In addition, a USA Today analysis of Medicare data in 2009 showed that Arkansas Heart Hospital was one of the state's top-performers, with the lowest death rate from heart attacks of any hospital in the state.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs