MedCath is a healthcare provider that currently owns an interest in and operates four hospitals in Arizona, California, Louisiana and Texas. In March 2010, the healthcare company announced a strategic options process in which it would explore the sale of its hospitals. MedCath has so far engaged in nine transactions, with the most recent being the sale of its equity interest in Arkansas Heart Hospital in Little Rock and the sale of substantially all the assets of Heart Hospital of New Mexico in Albuquerque.
MedCath’s 3Q report includes results from the two aforementioned hospitals.
The company also posted net income of $12.3 million, up from a net loss of $12.8 million in 3Q of fiscal 2010. In addition, total admissions and adjusted admissions fell 1.2 percent and 0.7 percent, respectively, compared to the same period last year.
Read MedCath’s news release about its third quarter financial results.
Related Articles on Hospital Earnings:
6 Hospital Operators Quarterly Earnings Reports
Tenet Revenues Up 3.1%, Net Income Doubles on Increased Admissions
IASIS Earnings Down Due to Loss on Debt Refinancing
