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MedCath Sells Share of Avera Heart Hospital in South Dakota
Charlotte, N.C.-based MedCath Corporation announced today that it has agreed to sell its one-third stake in Avera Heart Hospital of South Dakota to Avera McKennan, according to a MedCath Corporation news release.This is MedCath's second transaction since the formation of its Strategic Options Committee in March. The healthcare provider announced an agreement to sell Arizona Heart Hospital in Phoenix, Ariz., earlier this month.
Formed in 2001, Avera Heart Hospital became the Sioux Falls, S.D. region's only hospital dedicated solely to diagnosis and treatment of heart disease.
After the $20 million purchase, Avera McKennan will own two-thirds of the hospital. The transaction is expected to close in 45 to 90 days.
Read the MedCath Corporation news release.
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