Charlotte, N.C.-based MedCath has entered into a definitive agreement to sell its 70.3 percent ownership interest and management rights in Little Rock's Arkansas Heart Hospital to AR-MED, according to a MedCath news release.
The purchase terms are based on the hospital's valuation of $73 million and a percent of the hospital's available cash, from which MedCath expects to net $60 million. The net amount anticipated to be received by MedCath includes repayment of inter-company debt owed by Arkansas Heart Hospital, according to the release.
The sale is subject to MedCath stockholder approval and other conditions.
Read the MedCath release on its sale of Arkansas Heart Hospital.
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The purchase terms are based on the hospital's valuation of $73 million and a percent of the hospital's available cash, from which MedCath expects to net $60 million. The net amount anticipated to be received by MedCath includes repayment of inter-company debt owed by Arkansas Heart Hospital, according to the release.
The sale is subject to MedCath stockholder approval and other conditions.
Read the MedCath release on its sale of Arkansas Heart Hospital.
Related Articles on MedCath:
MedCath Sells Coastal Carolina Heart to New Hanover Regional Medical Center
Duke, LifePoint Joint Venture Acquires Cath Labs From MedCath
MedCath Completes Sale of Texsan Heart Hospital to San Antonio Health System