Hospital operator MedCath Corp. (NASDAQ:MDTH) has completed the $25 million sale of most of the assets of its cardiac catheterization lab division to a joint venture of LifePoint Hospitals and Duke University Health System.
MedCath’s cath lab division, called MedCath Partners, has been a part of the Charlotte, North Carolina-based company since its formation in 1988. The deal brings six permanent and three mobile cardiac cath labs to new owners DLP Healthcare, the joint venture between Duke and LifePoint (NASDAQ:LPNT). DLP said that the newly acquired assets will provide both hospital-based and mobile cardiac catheterization services across North Carolina. The new assets will help DLP bring new services to rural parts of the state.
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“As an operator of non-urban facilities, we understand the importance of being able to provide quality healthcare and specialized services to patients close to their homes,” DLP Healthcare President Jone Koford said in a statement. “Having these capabilities will further differentiate DLP Healthcare in the marketplace.”
Duke and LifePoint formed DLP Healthcare in February with the stated mission of owning and operating a system of community hospitals in North Carolina. Brentwood, Tennessee-based LifePoint, which specializes in community hospitals, operates more than 50 hospitals in 17 states.
MedCath owns and operates specialty hospitals that diagnose and treat cardiovascular conditions. But the company has been scaling back on its holdings. Last year, MedCath formed a strategic options committee to evaluate the sale of the company or its assets. The company has since completed six transactions, including the MedCath Partners deal, selling facilities or ownership stakes in facilities around the country.
