MedCath Completes Sale of Arkansas Heart Hospital

by Arkansas Business Staff  on Monday, Aug. 1, 2011 1:48 pm  

MedCath Corp. of Charlotte, N.C., announced Monday that has completed the sale of its 70.3 percent stake in Arkansas Heart Hospital with a $65 million deal to AR-MED LLC, a group owned by Dr. Bruce Murphy of the Little Rock Cardiology Clinic.

MedCath said in May that it would sell its interest in the hospital.

Under MedCath's 14-year ownership of the Heart Hospital, the number of beds expanded by 33 percent to 112. The hospital also won a number of awards for patient care, the news release said.

"We will always be proud of how after working with our physician partners, we were able to help establish a culture that emphasizes caring for the individual needs of patients and their families," O. Edwin French, MedCath's president and CEO, said in the news release. "That culture will continue with Dr. Murphy and his team, and we wish them continued success."




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