MedCath Won’t Sell California’s Bakersfield Heart Hospital, But Might Reduce Ownership Stake

MedCath President and CEO Ed French said Bakersfield (Calif.) Heart Hospital is not for sale but majority ownership could change, according to a report by the Bakersfield Californian.

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MedCath currently owns more than 51 percent of the hospital while more than 40 local doctors share ownership of more than 40 percent.

After the company reported a net loss of $50.3 million on revenues of $602 million in the fiscal year ended Sept. 30, MedCath announced it was considering selling off hospitals or facilities.

Read the Bakersfield Californian’s report on Bakersfield Heart Hospital.

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