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MedCath sells MedCath Partners operation

MedCath Corp. said today that it has completed the $25 million sale of the majority of the assets of its MedCath Partners division to DLP Healthcare.

DLP is a joint venture of LifePoint Hospitals and Duke University Health System.

Charlotte-based MedCath said it expects to receive about $16 million from the sale, after closing costs, taxes and other expenses.

MedCath intends to use the proceeds, along with available cash, to repay $30.2 million in debt.

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