MedCath has entered into a definitive agreement to sell its Hualapai Mountain Medical Center in Kingman, Ariz., to Kingman Regional Medical Center, according to a company news release.
Along with the announcement of the sale, Charlotte, N.C.-based MedCath also announced that the 70-bed Hualapai Mountain Medical Center will close on or before Sept. 30, subject to regulatory requirements. The company is notifying all employees at Hualapai and providing the staff with advance termination notice.
KRMC has said it will reopen the facility in a "limited capacity," according to the release, reflecting the current demand for hospital services. It also expects to offer employment to a number of terminated Hualapai employees based on estimated demand.
The transaction valued the assets of Hualapai Mountain Medical Center, along with 18.6 acres of adjacent undeveloped land, at $31 million plus retention of working capital. This is MedCath's 10th sale since announcing in March 2010 that it had formed a Strategic Options Committee to consider the sale either of the entire company or its assets.
MedCath Completes Sales of Heart Hospitals in New Mexico, Arkansas
MedCath to Sell Bakersfield Heart Hospital
Along with the announcement of the sale, Charlotte, N.C.-based MedCath also announced that the 70-bed Hualapai Mountain Medical Center will close on or before Sept. 30, subject to regulatory requirements. The company is notifying all employees at Hualapai and providing the staff with advance termination notice.
KRMC has said it will reopen the facility in a "limited capacity," according to the release, reflecting the current demand for hospital services. It also expects to offer employment to a number of terminated Hualapai employees based on estimated demand.
The transaction valued the assets of Hualapai Mountain Medical Center, along with 18.6 acres of adjacent undeveloped land, at $31 million plus retention of working capital. This is MedCath's 10th sale since announcing in March 2010 that it had formed a Strategic Options Committee to consider the sale either of the entire company or its assets.
Related Articles on MedCath:
MedCath's Third Quarter Revenue $91.8M, Down 1.4%MedCath Completes Sales of Heart Hospitals in New Mexico, Arkansas
MedCath to Sell Bakersfield Heart Hospital