MedCath has taken great strides in recent years to expand several of our hospitals, open a new one and focus on growing markets. We have long been recognized for superior cardiovascular clinical results, but now we’ve extended those capabilities beyond heart care to include a number of high acuity services.
While we’re proud of our efforts to look to reach a level of broad-based, consistent growth, we are also taking other steps to determine the best action course of action for improving shareholder value. In March 2010, we announced that our board had formed a Strategic Options Committee to consider the sale either of MedCath or the sale of its individual hospitals and other assets.
Since that time, MedCath has completed twelve transactions. We have either sold the assets of, or our interest, in eight hospitals: Arizona Heart Hospital, Arkansas Heart Hospital, Avera Heart Hospital of South Dakota, Heart Hospital of Austin, Heart Hospital of New Mexico, Hualapai Mountain Medical Center, Louisiana Medical Center & Heart Hospital and TexSan Heart Hospital. In addition, MedCath sold the assets of its Partners division through four separate transactions. We will continue to work with independent advisors and assess all options, and we will not put time constraints on this process.
As the Strategic Options Committee continues its work, MedCath’s commitment to our patients and to our investors will remain unwavering.
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