Sept. 22, 2011
/PRNewswire/ -- MedCath Corporation (Nasdaq: MDTH) announced that the company's stockholders today approved the proposals contained in a proxy statement filed with the Securities and Exchange Commission on
August 17, 2011
, authorizing the sale of substantially all of the remaining assets of MedCath and the dissolution of the company.
MedCath also announced today that its Board of Directors approved a cash distribution equal to
per share, which will be paid
October 13, 2011
to stockholders of record on
October 6, 2011
. The amount of the distribution is consistent with the amount of the anticipated initial distribution described in the proxy statement dated
August 17, 2011
MedCath announced in
it had formed a Strategic Options Committee to consider the sale either of the entire company or its assets. Since that time, the company has announced 10 transactions.
MedCath Corporation, headquartered in
, is a health care provider focused on high acuity services with the diagnosis and treatment of cardiovascular disease being a primary service offering. MedCath owns an interest in and operates four hospitals with a total of 366 licensed beds, located in
. This press release contains a forward-looking statement relating to the payment of a cash distribution to stockholders. The payment of this distribution is subject to various risks, including those described in MedCath's Annual Report on Form 10-K, as amended, and its subsequent filings with the Securities and Exchange Commission. Actual results could differ materially from those projected in this forward-looking statement. MedCath assumes no obligation to update statements contained in this press release.
SOURCE MedCath Corporation