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MedCath completes $55M sale of Dayton hospital



By AP
19 May 2008 @ 09:22 am EST

CHARLOTTE, N.C. - Hospital chain MedCath Corp. said Monday it closed its $55 million sale of Dayton Heart Hospital to Good Samaritan Hospital.

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MedCath said net proceeds from the sale will amount to about $32 million and be used for general corporate purposes, including investment in other hospital projects.

Good Samaritan Hospital is a 566-bed teaching hospital in Dayton, Ohio.

MedCath owns an interest in and operates nine hospitals with a total of 616 licensed beds, located in Arizona, Arkansas, California, Louisiana, New Mexico, South Dakota, and Texas.

Shares of MedCath closed Friday at $19.98.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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