NEW YORK (Thomson Financial) - MedCath Corp. Monday said it would sell all
the assets of Dayton Heart Hospital to Dayton, Ohio's Good Samaritan Hospital
for $55 million.
The company said part of the purchase price was allocated to customary
noncompetition obligations.
The sale is expected to close on May 16.
MedCath sees aftertax proceeds of $32.5 million, which it will use for
general corporate purposes, including investing in other hospital projects.
Shares of MedCath, a Charlotte, N.C.-based hospital operator, closed
Thursday at $18.32.
Ryan Vlastelica
rv/vj
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|