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MedCath Corporation (MDTH) Dissolving Company


9/25/2012 8:31:34 AM

Charlotte Business Journal by Jennifer Thomas, Staff Writer

MedCath Corp. has filed paperwork with the Delaware secretary of state to dissolve the company.

The Charlotte-based health-care provider stopped trading its common stock on the NASDAQ exchange before the market opened Monday. Its stock had traded under the ticker MDTH.

NASDAQ has advised MedCath it will file with the U.S. Securities and Exchange Commission to delist the stock.

MedCath was founded in 1988. It owned and operated specialty hospitals that diagnosed and treated cardiovascular diseases.

The company formed a strategic-options committee in March 2010 to explore selling the company or its assets, citing a difficult regulatory and business environment. At that time, MedCath owned or held a stake in 10 hospitals specializing in cardiovascular services.

MedCath sold its share of a California hospital — its final holding — in July.

In August, MedCath announced it planned to file a certificate of dissolution on Sept. 21. It also approved a cash distribution of $6.33 per share to its stockholders.




   

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