Navigation Links
MedCath Announces Completion of Sale of Dayton Heart Hospital to Good Samaritan Hospital-Dayton

CHARLOTTE, N.C., May 19 /PRNewswire-FirstCall/ -- MedCath Corporation (Nasdaq: MDTH), its physician partners and Good Samaritan Hospital, Dayton, Ohio, jointly announced today that the parties have completed the sale of Dayton Heart Hospital to Good Samaritan Hospital. Under terms of the transaction, Good Samaritan purchased substantially all of Dayton Heart Hospital's assets for $55.0 million.

Net proceeds to MedCath, after income tax expense related to the gain on sale and liquidation of net working capital retained by the hospital partnership, are anticipated to total approximately $32.0 million. MedCath will use the proceeds for general corporate purposes, including investment in other hospital projects.

Opened in 1999, Dayton Heart Hospital is a 47-bed hospital focused on providing cardiovascular care to the Dayton community. A member of the Premier Health Partners system, Good Samaritan Hospital (Dayton, Ohio) is a 577-bed, full-service teaching facility with a 75-year history that delivers best-in-care cardiovascular, cancer and orthopedics services. Recently, the Joint Commission awarded gold seal certifications to the Good Samaritan's outstanding heart failure, heart attack, breast cancer and artery bypass graft surgery programs. Additionally, HealthGrades, the leading independent quality monitoring organization in the country, named Good Samaritan as a recipient of its 2008 Distinguished Hospital Award for Clinical Excellence, which places it among the top 5 percent of hospitals nationwide.

"We've enjoyed our longstanding relationship with our physician partners in working jointly to provide quality cardiovascular care to the residents in Dayton and nearby communities," said O. Edwin French, MedCath's President and Chief Executive Officer. "We wish them and Good Samaritan continued success in servicing the healthcare needs of the local market."

MedCath Corporation, headquartered in Charlotte, N.C., is a healthcare 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 nine hospitals with a total of 616 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, South Dakota, and Texas. MedCath is in the process of developing its tenth hospital in Kingman, Arizona. In addition, MedCath and its subsidiary MedCath Partners provide services in diagnostic and therapeutic facilities in various states.

Parts of this announcement contain forward-looking statements that involve risks and uncertainties. Although management believes that these forward- looking statements are based on reasonable assumptions, these assumptions are inherently subject to significant economic, regulatory and competitive uncertainties and contingencies that are difficult or impossible to predict accurately and are beyond our control. Actual results could differ materially from those projected in these forward-looking statements. We do not assume any obligation to update these statements in a news release or otherwise should material facts or circumstances change in ways that would affect their accuracy.

These various risks and uncertainties are described in detail in "Risk Factors" in MedCath's Form 10-K filed with the Securities and Exchange Commission on December 14, 2007, a copy of which is available on the internet site of the Securities and Exchange Commission at

SOURCE MedCath Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. MedCath Names Parker to New Finance Post
2. MedCath Corporation to Present at the Banc of America Securities 2008 Health Care Conference
3. MedCath Corporation Reports Second Quarter Earnings
4. MedCath Corporation to Present at the Deutsche Bank Securities 33rd Annual Health Care Conference
5. MedCath Provides Preliminary Second Quarter Fiscal 2008 Earnings and Updates Fiscal 2008 Outlook
6. Woodrin Woody Grossman Appointed to MedCaths Board of Directors
7. Pamela G. Bailey and Edward R. Casas, M.D. Appointed to MedCaths Board of Directors
8. MedCath Announces Acquisition of Ownership in Arizona Cath Lab
9. MedCath Enters Definitive Agreement to Sell Dayton Heart Hospital to Good Samaritan Hospital-Dayton
10. MedCath Corporation to Present at the Citi 2008 Small and Mid-Cap Conference
11. MedCath Corporation to Present at the Raymond James 29th Annual Institutional Investors Conference
Post Your Comments:
(Date:10/13/2017)... , ... October 13, 2017 ... ... of Pharmacy (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ... on guideline updates for the primary prevention of cardiovascular diseases during the ...
(Date:10/13/2017)... RIDGE, N.J. (PRWEB) , ... October 13, 2017 , ... ... annual Holly Day Market. Featuring a collection of specialty vendors and unique items from ... of personalized and quality-focused health and wellness services offered by the VNA. The ...
(Date:10/13/2017)... ... October 13, 2017 , ... Talented host, actor Rob ... sciatica in a new episode of "Success Files," which is an award-winning educational ... and investigates each subject in-depth with passion and integrity. , Sciatica occurs when ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance ... management, will showcase a range of technology and learning solutions at the 68th ... and Expo to be held October 14–18, 2017 at the Mandalay Bay Resort ...
(Date:10/12/2017)... ... , ... IsoComforter, Inc. ( ), one of the Nation’s ... design of the shoulder pad. The shoulder pad provides optimal support and full ... while using cold therapy. By utilizing ice and water that is circulated from an ...
Breaking Medicine News(10 mins):
(Date:10/12/2017)... Divoti USA will engrave and process all non-coated ... latest FDA requirements, which stipulates new criteria regarding medical device manufacture ... Medical ID jewelry such as Medical ID Bracelets, can rest assured ... of the new FDA requirements . ... Divoti offers this dark mark fiber laser engraving process ...
(Date:10/11/2017)... Oct. 11, 2017  BioPharmX Corporation (NYSE MKT: BPMX) ... developed an innovative way to use nonlinear optical imaging ... of new drugs. ... Conference will show how researchers from BioPharmX and the ... School used a suite of imaging techniques in what ...
(Date:10/11/2017)... Texas , Oct. 11, 2017  True ... services, has amplified its effort during National Breast ... about hereditary cancer risks. ... of Clinical Oncology calculated that more than 10 ... have inherited mutations in BRCA1 or BRCA2 and have ...
Breaking Medicine Technology: