MedCath Corporation Announces Expiration of Cash Tender Offer for Its 9-7/8% Senior Notes Due 2012
January 26 2006 - 7:30AM
PR Newswire (US)
CHARLOTTE, N.C., Jan. 26 /PRNewswire-FirstCall/ -- MedCath
Corporation (NASDAQ:MDTH) today announced that its wholly-owned
subsidiary, MedCath Holdings Corp. ("MedCath Holdings"), has
completed an offer to purchase at par up to $30,330,000 in
aggregate principal amount of 9-7/8% senior notes due 2012 (CUSIP
58404UAB9). The tender offer for the notes expired at 5:00 p.m.,
New York City time, on January 23, 2006 (the "Expiration Time") and
is subject to the terms and conditions set forth in the Company's
Offer to Purchase for Cash, dated December 21, 2005 (the "Offer to
Purchase"). MedCath Holdings accepted for purchase and paid for
$11,865,000 principal amount of notes tendered prior to the
Expiration Time. Holders who validly tendered notes prior to the
Expiration Time received total consideration per $1,000.00
principal amount of Notes tendered of $1,000.00, plus accrued and
unpaid interest on the Notes tendered up to, but not including, the
payment date. MedCath Corporation, headquartered in Charlotte,
N.C., develops, owns and operates hospitals in partnership with
physicians, most of whom are cardiologists and cardiovascular
surgeons. While each of its hospitals is licensed as a general
acute care hospital, MedCath focuses on serving the unique needs of
patients suffering from cardiovascular disease. Together with its
physician partners who own equity interests in them, MedCath owns
and operates 12 hospitals with a total of 727 licensed beds,
located in Arizona, Arkansas, California, Louisiana, New Mexico,
Ohio, South Dakota and Texas. In addition to its hospitals, MedCath
provides cardiovascular care services in diagnostic and therapeutic
facilities located in various states and through mobile cardiac
catheterization laboratories. First Call Analyst: FCMN Contact:
cglickman@mower.com DATASOURCE: MedCath Corporation CONTACT: John
Casey, Chairman & Chief Executive Officer, or Jamie Harris,
Chief Financial Officer, of MedCath Corporation, +1-704-708-6600
Web site: http://www.medcath.com/
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