San Antonio: TexSan Hospital Under New Ownership

Methodist Healthcare System has officially closed on its purchase of TexSan Heart Hospital from MedCath Corp. and its physician owners.

Under the terms of the deal, Methodist bought the hospital for $78.5 million. MedCath anticipates that it will receive $58 million in cash for the facility after paying liabilities, closing costs, taxes and acquisition costs related to the buyout of the minority interest owned by heart doctors.

The effective date of the transaction was Dec. 31, 2010.

TexSan Heart Hospital opened in San Antonio in 2004 as a specialty hospital. In 2009, TexSan earned an Excellence Award from HealthGrades, the independent health care ratings organization.

Charlotte, N.C.-based MedCath (NASDAQ: MDTH) currently owns an interest in and operates six hospitals in six states and has a total of 533 licensed beds.

Methodist Healthcare is San Antonio’s largest health system.