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October 6, 2011

CHG acquires Louisiana Medical, Heart Hospital

Cardiovascular Care Group (CCG) has completed the acquisition of Louisiana Medical Center and Heart Hospital from MedCath.

Cardiovascular Care Group (CCG) has completed the acquisition of Louisiana Medical Center and Heart Hospital from MedCath.

Heart Hospital and Louisiana Medical Center provides acute inpatient and outpatient services to patients in three Louisiana parishes and southern Mississippi counties.

The transaction allows CHG to continue providing services to the St. Tammany Parish and the surrounding areas.

CCG plans to invest capital to upgrade the hospital’s clinical and information technology systems to build a Cardiovascular Center of Excellence.

MedCath expects to receive approximately $33m from the transaction after closing costs, including tax benefits related to the sale.

MedCath has also completed sale of all the assets of Hualapai Mountain Medical Center in Kingman, Arizona, US, to the Kingman Regional Medical Center (KRMC).

 

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