Avera McKennan paid $20 million plus a percentage of available cash, which is estimated to total about $16 million. Avera McKenna now owns two-thirds of the heart hospital.
MedCath also recently sold its stake in Arizona Heart Hospital in Phoenix to Vanguard Health Systems’ Abrazo Health Care for $32 million.
Read the MedCath release on Avera Heart Hospital.
Read more coverage on MedCath:
– Vanguard to Acquire Arizona Heart Hospital
– Fighting Declining Revenues, MedCath Considers Selling Off More Facilities
– MedCath to Sell Heart Hospital of Austin to St. David’s Healthcare
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