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MedCath Corporation (MDTH) Sells Sun City Cardiac Center Associates ("Sun City") to Banner Health
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Posted on 10/01/09 at 6:51am by Ben Zinga
MedCath Corporation (Nasdaq: MDTH) sold the Sun City Cardiac Center Associates, a partnership owned 60% by MedCath Partners, LLC and 40% by certain physician and other investors, to Banner Health. MedCath Corporation is a healthcare provider focused on high acuity healthcare services, predominately the diagnosis and treatment of cardiovascular disease. The transaction valued Sun City at $16.9 M, excluding approximately $0.9M in working capital retained by the selling partnership.
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