MedCath has sold Heart Hospital of New Mexico to Lovelace Health System in Albuquerque and Arkansas Heart Hospital to AR-MED, according to company news releases.
The transaction values the Albuquerque-based Heart Hospital of New Mexico’s assets at $119.0 million. Purchase terms for the sale of Little Rock-based Arkansas Heart Hospital are based on the hospital’s valuation of $73.0 million plus a percentage of its available cash.
Lovelace is an affiliate of Ardent Health Services, based in Nashville, Tenn. AR-MED is majority owned by Bruce Murphy, MD, a physician affiliated with Little Rock Cardiology Clinic and a current investor in the Arkansas Heart Hospital.
The two deals bring MedCath’s total transactions to nine since announcing in March 2010 it had formed a committee to consider the sale of the entire company or its assets.
Read the news release on the sale of Heart Hospital of New Mexico.
Read the news release on the sale of Arkansas Heart Hospital.
Related Articles on MedCath:
MedCath to Sell Bakersfield Heart Hospital
FTC Approves Sale of MedCath’s Heart Hospital of New Mexico to Lovelace Health
MedCath Seeks Stockholder Approval to Dissolve Company
