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MedCath completes $78.5M sale of TexSan Heart Hospital

Charlotte-based MedCath Corp. said Monday it has sold substantially all of the assets of TexSan Heart Hospital to Methodist Healthcare System of San Antonio for approximately $78.5 million, plus retention of working capital.

The company announced in November that it had entered into an agreement to make the sale to MHS.

MedCath said it expects to receive approximately $58.0 million in cash from the sale, which took place Friday, after closing costs and taxes, among other things.

MedCath is a health care provider specializing in the diagnosis and treatment of cardiovascular disease. It owns an interest in and operates six hospitals with a total of 533 licensed beds in Arizona, Arkansas, California, Louisiana, New Mexico and Texas.

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