MedCath has completed the sale of 58-bed Heart Hospital of Austin (Texas) to St. David's Healthcare, according to a MedCath news release.
The two groups announced the deal in February. Under terms of the transaction, MedCath and its physician partners sold substantially all the assets of Heart Hospital of Austin for a purchase price equal to $83.8 million plus retention of working capital.
The transaction marks MedCath's third completed hospital sale since it announced in March it would consider the sale of its hospital assets. Last month, MedCath announced the completion of separate sales transactions involving the Arizona Heart Hospital and Avera Heart Hospital of South Dakota.
Read the MedCath release on Heart Hospital of Austin.
Read more coverage on MedCath hospitals:
- Avera McKennan Completes Purchase of MedCath's Stake in Avera Heart Hospital
- Fighting Declining Revenues, MedCath Considers Selling Off More Facilities
The two groups announced the deal in February. Under terms of the transaction, MedCath and its physician partners sold substantially all the assets of Heart Hospital of Austin for a purchase price equal to $83.8 million plus retention of working capital.
The transaction marks MedCath's third completed hospital sale since it announced in March it would consider the sale of its hospital assets. Last month, MedCath announced the completion of separate sales transactions involving the Arizona Heart Hospital and Avera Heart Hospital of South Dakota.
Read the MedCath release on Heart Hospital of Austin.
Read more coverage on MedCath hospitals:
- Avera McKennan Completes Purchase of MedCath's Stake in Avera Heart Hospital
- Fighting Declining Revenues, MedCath Considers Selling Off More Facilities